The effect of business cycles on growth: Keynes vs. Schumpeter.
In contrast to recent ‘neo-Schumpeterian’ models, which argue that business cycles are good for growth, we develop a ‘neo-Keynesian’ model, where monopolistically competitive firms set prices and produce output in advance of the realization of (stochastic) monetary velocity. In such a setting, ther...
| Publicado en: | Economic Inquiry Vol. 36; no. 3; pp. 501 - 512 |
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| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
July 1998
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |