Counting innovations: Schumpeterian growth in discrete time

Guido Cozzi and Silvia Galli ()

Economics Letters, 2020, vol. 189, issue C

Abstract: Schumpeterian growth theory based on creative destruction was originally designed for continuous time innovation and growth models. However, its recently expanding use in DSGE modelling calls for an easily useable discrete time recast. We here show how to construct a discrete time version of creative destruction fully equivalent to its continuous time counterpart.

Keywords: R&D and growth; Creative destruction; Discrete time; DSGE (search for similar items in EconPapers)
JEL-codes: O30 O40 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (1)

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Working Paper: Counting innovations: Schumpeterian growth in discrete time (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:189:y:2020:i:c:s0165176520300410

DOI: 10.1016/j.econlet.2020.109014

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