Munich Personal RePEc Archive

Counting innovations: Schumpeterian growth in discrete time

Cozzi, Guido and Galli, Silvia (2019): Counting innovations: Schumpeterian growth in discrete time.

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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 usable discrete time recast. We here show how to construct a discrete time version of creative destruction fully equivalent to its continuous time counterpart.

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