e - J E M E D: Article 1007

Article 1007

Evolutionary macroeconomics: A synthesis between neo-Schumpeterian and post-Keynesian lines of thought

Bart Verspagen

ECIS, Eindhoven University of Technology

Keywords: Evolutionary economic models, Policy models, Dutch economy, Dynamic input-output model

JEL: O40, O52, E17, C67

Abstract
The aims of the article The aim of this paper is to provide a starting point for the building of practical policy simulation models using ideas from evolutionary economics. The methods of the article This paper presents an evolutionary simulation model of the Dutch economy. The model is available in the form of a computer programme, and can be used to simulate growth paths for the Dutch economy under different scenarios. Part of the theory builds on post-Keynesian economics, and neo-Schumpeterian economics. The results of the article The results generated in the simulation runs show that differences in terms of competitiveness, the rate of productivity change as a result of technological progress, and changes in terms of the sectoral shares of demand may have a significant impact on the rate of growth of the Dutch economy over the long run. The code and the data used for this article can be downloaded from the web page of the author.

Abstract

The aims of the article

The aim of this paper is to provide a starting point for the building of practical policy simulation models using ideas from evolutionary economics.

The methods of the article

This paper presents an evolutionary simulation model of the Dutch economy. The model is available in the form of a computer programme, and can be used to simulate growth paths for the Dutch economy under different scenarios. Part of the theory builds on post-Keynesian economics, and neo-Schumpeterian economics.

The results of the article

The results generated in the simulation runs show that differences in terms of competitiveness, the rate of productivity change as a result of technological progress, and changes in terms of the sectoral shares of demand may have a significant impact on the rate of growth of the Dutch economy over the long run.

The code and the data used for this article can be downloaded from the web page of the author.

Download this article

This article has effectively^(*) been downloaded 3505 times.

Submitted: 2000-02-16, Revised: 2001-02-12, Published: 2002-01-15, Edited by: Murat Yildizoglu
(*) We only count effective and successful downloads.

Back to e-JEMED page