real exchange rate uncertainty, and may thus reduce investment and learning in the secondary sector and hence also growth …

When learning-by-doing is at the origin of growth, we show that growth rates should be negatively related to the … does not hold for non-industrialized countries, however, for which learning-by-doing may not to be the main engine of …

problem. The dynamic structure of the problem emanates either from an exhaustible resource or from a learning … resource case, while they keep rising in the learning-by-doing case. Subsidies are higher in the learning-by-doing case than …

Learning-by-doing and organizational forgetting have been shown to be important in a variety of industrial settings … behaviour no longer hold in this more general setting. We show that organizational forgetting does not simply negate learning …-by-doing. Rather, learning-by-doing and organizational forgetting are distinct economic forces. In particular, a model with both …

This paper provides evidence that learning about demand is an important driver of firms' dynamics. We present a simple … model with Bayesian learning in which firms are uncertain about their idiosyncratic demand parameter in each of the markets … their beliefs following a new demand shock, the younger they are. To test this learning mechanism, we make use of a specific …

correlated learning may render it optimal to enter markets sequentially – an investment in market A is only followed by entry in …, we identify correlated learning across markets beyond alternative explanations as a key driver of gradualism in the …

, leverage, and asset prices larger than predicted under either rational expectations without learning or with learning but …