Learning by Doing and the Introduction of New Goods

Nancy L Stokey

Journal of Political Economy, 1988, vol. 96, issue 4, 701-17

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. Copyright 1988 by University of Chicago Press.

Date: 1988
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Working Paper: Learning-by-Doing and the Introduction of New Goods (1987)
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