Bellettini, Giorgio; Ottaviano, Gianmarco I. P. - In: Review of Economic Studies 72 (2005) 1, pp. 43-56
We study an OLG economy where productivity growth comes from two alternative sources: process innovation and learning-by-doing. There is a trade-off between the two in so far as frequent technological updates reduce the scope for learning on existing technologies. A conflict is shown to arise...
