We build a general equilibrium model in which growth is driven by two invention types: fundamental ideas that cause creative destruction, and derivative ideas that enhance the value of existing inventions. The model provides a new mapping from microeconomic, patent data to aggregate TFP growth and the aggregate value of privately owned knowledge. We show how to measure the frequency of derivati...

Creative teams can help software companies to grow and to obtain advantage. It is important for contemporary educational units to increase student team creativity in information system development and provide training for student teams to product creative results. A survey design was selected to collect data and test the proposed model. Thirty-six teams (204 students) enrolling in an informatio...

Here, focusing on the experience of Newcastle, Chatterton and Hollands continue debates around culture, capital and the ‘creative’ city already initiated in this journal (see Chatterton, ‘Will the real creative city please stand up?’ in City 4(3) (2000), and Harcup in City 4(2) (2000), for example). Research on the form, origins, regulation and ownership of the city’s nightlife lead to an image...

Technological change is examined in a model of capital production to show that “creative destruction” can occur as an outcome of firm’s optimizing behavior. Capital systems are made up of components that are necessary for them to operate and that have uncertainty with respect to durability. For each type of technological change agents make a corresponding decision about whether to continue to u...

This paper considers an improvement in capital embodied technology which only production units that adapt to new knowledge can utilize. This innovation is distinct from a decline in capital goods price which can be utilized by all production units. A simple firm dynamics model is used to show that such an innovation shock enhances reallocation, whereas a shock lowering capital goods price reduc...