A Keynes + Schumpeter model to explain development, speculation and crises

Giancarlo Bertocco and Andrea Kalajzić

No PKWP1916, Working Papers from Post Keynesian Economics Society (PKES)

Abstract: Recently, Dosi and his co-authors have developed a ‘Keynes+Schumpeter’ model which “endogenously generates self-sustained growth patterns together with persistent economic fluctuations ...”. The aim of this work is twofold. First, to show that the K+S model developed by Dosi and his co-authors does not allow to explain the instability that characterizes a capitalist economy. This limitation is due to the fact that the model overlooks some key elements of Schumpeter’s analysis. The second objective is to show that a solid K+S model can be built starting from the elements of Schumpeter’s theory neglected by Dosi and his co-authors.

Keywords: bank money; innovations; crisis (search for similar items in EconPapers)
JEL-codes: O11 O16 O42 (search for similar items in EconPapers)
Pages: 39
Date: 2019-07
New Economics Papers: this item is included in nep-fdg, nep-gro, nep-hme and nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://postkeynesian.net/media/working-papers/PKWP1916.pdf First version, 2019 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pke:wpaper:pkwp1916

Access Statistics for this paper

More papers in Working Papers from Post Keynesian Economics Society (PKES) Contact information at EDIRC.
Bibliographic data for series maintained by Jo Michell ().