Structure and cycles

Mario Amendola (), Claude Froeschlé and Jean-Luc Gaffard
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Mario Amendola: UNIROMA - Università degli Studi di Roma "La Sapienza" = Sapienza University [Rome]
Claude Froeschlé: CASSIOPEE - Laboratoire de Cosmologie, Astrophysique Stellaire & Solaire, de Planétologie et de Mécanique des Fluides - UNS - Université Nice Sophia Antipolis (1965 - 2019) - INSU - CNRS - Institut national des sciences de l'Univers - Observatoire de la Côte d'Azur - UniCA - Université Côte d'Azur - CNRS - Centre National de la Recherche Scientifique

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Abstract: On the basis of a Neo-Austrian representation of the production process, we show how recurrent cycles can emerge from a distortion of productive capacity,which hamper the viability of changes that imply structural modifications. Even the quickest and most complete adaptation of the structure of productive capacity cannot prevent the economy from bearing fluctuations: it can only make them regular.

Keywords: Structural change; Complex dynamics; Viability (search for similar items in EconPapers)
Date: 1996-05
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Published in Journal of Economic Behavior and Organization, 1996, 29 (3), pp.409 - 432

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03471494

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