Theories of Entrepreneurship, Innovation and the Business Cycle

18 Pages Posted: 17 May 2012

See all articles by Simon C. Parker

Simon C. Parker

University of Western Ontario; Durham University - Department of Economics and Finance; IZA Institute of Labor Economics

Date Written: July 2012

Abstract

This paper discusses several prominent economic theories which link entrepreneurs and their innovations to the creation and magnitude of business cycles. I distinguish three broad classes of theories: models of creative destruction; models of innovation and implementation cycles; and models of production under asymmetric information. Key insights of the theories are identified, policy implications are drawn, and suggestions for future research are proposed.

Keywords: Business cycle, Entrepreneurship

Suggested Citation

Parker, Simon C., Theories of Entrepreneurship, Innovation and the Business Cycle (July 2012). Journal of Economic Surveys, Vol. 26, Issue 3, pp. 377-394, 2012. Available at SSRN: https://ssrn.com/abstract=2061506 or http://dx.doi.org/10.1111/j.1467-6419.2012.00728.x

Simon C. Parker (Contact Author)

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