five

Endogenous Growth and Cycles

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NBER1993-03-01 更新2025-01-04 收录
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https://www.nber.org/papers/w4286
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Schumpeter argued that economic downturns had positive effects, in the incentives that it provided for firms to increase their efficiency. Part 1. provides a simple model confirming Schwnpeter's insight At thesame time, the model shows that there are real costs to economic fluctuations which extend
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1993-03-01
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