Dosi, Giovanni; Fagiolo, Giorgio; Roventini, Andrea - Laboratory of Economics and Management (LEM), Scuola … - 2005
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 R&D and produces heterogeneous...