Guido Cozzi
Title
Prof. PhD
Last Name
Cozzi
First name
Guido
Email
guido.cozzi@unisg.ch
Phone
+41 71 224 2399
RePec
http://ideas.repec.org/f/pco350.html
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Item type:Publication, Medium Frequencies in Non-Frontier Economies(2018-11); ; Most countries in the world are not at the technological frontier, yet their economies grow and fluctuate. In this paper we set up a model of endogenous growth with business cycle fluctuations usable to analyze the medium frequency fluctuations in non-frontier countries. The growth mechanism is a Schumpeterian creative destruction framework, which is embedded into a real business cycle dynamic stochastic general equilibrium model, with standard and non-standard features. We allow for multinational firms entering the economy and challenging existing incumbents, and study the tension between their direct positive productivity contribution and their indirect negative contribution through the expected obsolescence of domestic innovators. We calibrate the model and show, via simulations, the potential value added from our prototype model.Type:working paper