Endogenous Cycles and Growth with Indivisible Technological Developments

Scott John Freeman, Dong-Pyo Hong () and Dan Peled ()

Review of Economic Dynamics, 1999, vol. 2, issue 2, pages 402-432

Abstract: When large, discrete technological improvements require the accumulation of research or infrastructural investment over time, growth paths display cyclical patterns even in the absence of any shocks. Particularly interesting equilibrium features of these cycles include declines in output and asymmetries in the cyclic patterns displayed during expansions and recessions. (Copyright: Elsevier)

JEL-codes: E22 E32 O41 (search for similar items in EconPapers)
Date: 1999
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