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• W2068363974 abstract "In the micro-macro (M M) model MOSES real Swedish firms make independent decisions in markets. Schumpeterian innovative activities and Wicksellian capital market disequilibria generate a growth cycle. Production and investment decisions (in firms) are dynamically coordinated by markets for products, labor and capital under different market regimes as to speed, intensity of competitive processes and of innovative activity. By varying market regime, ceteris par leux, long-term growth rates of the economy can be generated at cliffe as much as between the industrial countries during the last 50 years. High speed market processes increase output growth for long periods, but make the model economy sensitive to disturbances, that eventually generate a severe depression. Simulation results suggest the importance for stable macroeconomic growth of a steady input of innovative technical change through new investment, new entry and exit to preserve micro diversity of structures." @default.
• W2068363974 created "2016-06-24" @default.
• W2068363974 creator A5032146070 @default.
• W2068363974 date "1984-09-01" @default.
• W2068363974 modified "2023-10-18" @default.
• W2068363974 title "Micro heterogeneity of firms and the stability of industrial growth" @default.
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• W2068363974 doi "https://doi.org/10.1016/0167-2681(84)90002-7" @default.
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