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Journal Article

Learning by Doing and the Introduction of New Goods

Nancy L. Stokey
Journal of Political Economy
Vol. 96, No. 4 (Aug., 1988), pp. 701-717
Stable URL: http://www.jstor.org/stable/1830470
Page Count: 17
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Learning by Doing and the Introduction of New Goods
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Abstract

A dynamic general equilibrium model is developed in which goods are valued according to the characteristics they contain, the set of goods produced in any period is endogenously determined, and learning by doing is the force behind sustained growth. It is shown that the set of produced goods changes in a systematic way over time, with goods of higher quality entering each period and those of lower quality dropping out. The model is then used to study the effect of introducing a "traditional" sector in which there is no learning.

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Part of Sustainability