The paper presents an Agent-Based extension of Nelson-Winter model of schumpeterian competition. The original version did not provide any insight about the direction of firms' innovative activities and of technological change as a whole. As a result, it lacked an explicit structure governing...

Schumpeter showed that the boom and bust cycles are intrinsically related to the functioning of the capitalist economy. These boom and bust cycles are inherent to the rise innovation. Our paper analyses innovation cycles in a stock flow consistent framework. It focuses on the essential role of...

The paper presents an Agent-Based extension of Nelson-Winter model of schumpeterian competition. The original version did not provide any insight about the direction of firms’ innovative activities and of technological change as a whole. As a result, it lacked an explicit structure governing...

Schumpeter showed that the boom and bust cycles are intrinsically related to the functioning of the capitalist economy. These boom and bust cycles are inherent to the rise innovation. Our paper analyses innovation cycles in a stock flow consistent framework. It focuses on the essential role of...