FERREIRA, Pedro Cavalcanti
Crescimento econômico, retornos crescentes e concorrência monopolista - São Paulo : Nobel, abr./jun. 1996
In this article we investigate the theoretical shortcomings of traditional neoclassical growth models and how the new literature of endogenous growth has emerged to overcome these shortcomings. We study the theoretical reasons for hypothesis in the traditional models some of them necessary for the existence of equilibrium that implied counter-factual empirical results, like convergence. We will investigate how these hypothesis were relaxed or substituted, up to a point where the new literature end up working with increasing returns and monopolist competition models of Schumpetrian inspiration that deliver sustained growth and creative destruction
Crescimento econômico, retornos crescentes e concorrência monopolista - São Paulo : Nobel, abr./jun. 1996
In this article we investigate the theoretical shortcomings of traditional neoclassical growth models and how the new literature of endogenous growth has emerged to overcome these shortcomings. We study the theoretical reasons for hypothesis in the traditional models some of them necessary for the existence of equilibrium that implied counter-factual empirical results, like convergence. We will investigate how these hypothesis were relaxed or substituted, up to a point where the new literature end up working with increasing returns and monopolist competition models of Schumpetrian inspiration that deliver sustained growth and creative destruction
