Growth and cycles, in the mode of marx and schumpeter

Michele Boldrin

doi:10.1111/j.1467-9485.2009.00492.x

Growth and cycles, in the mode of marx and schumpeter

Michele Boldrin

Research output: Contribution to journal › Article › peer-review

Abstract

I propose a theory of endogenous growth and cycles under competitive conditions. Firms choose how many workers to hire, how much to invest, and which technologies to use. New capacity, embodying labor-saving technologies, is costlier than old one but allows for a lower wage bill. The interaction between labor-saving innovations and changes in the relative price of labor is the source of growth cycles.

Original language	English
Pages (from-to)	415-442
Number of pages	28
Journal	Scottish Journal of Political Economy
Volume	56
Issue number	4
DOIs	https://doi.org/10.1111/j.1467-9485.2009.00492.x
State	Published - 2009

Keywords

5′NTR
Business cycles
E32
Endogenous growth
Labor-saving technological change
O11
O31
O41

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10.1111/j.1467-9485.2009.00492.x

Cite this

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Growth and cycles, in the mode of marx and schumpeter

Abstract

Keywords

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