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• W1547335684 abstract "In this paper, we present an evolutionary model of industry dynamics yielding en- dogenous business cycles with 'Keynesian' features. The model describes an economy composed of firms and consumers/workers. Firms belong to two industries. The first one performs RD consumption is less volatile than GDP; investment, consumption and change in stocks are procyclical and coincident variables; employment is procyclical; unemployment rate is countercyclical; firm size distributions are skewed but depart from log-normality; firm growth distributions are tent-shaped." @default.
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• W1547335684 date "2005-04-10" @default.
• W1547335684 modified "2023-09-27" @default.
• W1547335684 title "Animal Spirits, Lumpy Investment, and Endogenous Business Cycles" @default.
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