ABSTRACT
In the last decades an increasing part of economic literature was directed towards a new growth theory, i.e., the endogenization of technological change in a variety of ways. 1 Whereas these models usually were constructed on a neoclassical background, this chapter investigates, how endogenous technological change can be integrated into a model of temporary disequilibrium, where output and employment are constrained by demand side due to temporary wage and price stickiness and where in the medium- and long-run wages and prices then respond to the disequilibria on the markets for labor and goods as well as to cost-pressure terms. Furthermore, the capital stock adjusts in its dependence on a constant growth term by the difference between the rate of profit and the expected real long-run rate of interest. 2
