Perla, Jesse; Tonetti, Christopher; Benhabib, Jess - Society for Economic Dynamics - SED - 2014
Perla and Tonetti (2014) and Lucas and Moll (2014) study technology diffusion in isolation, in environments without the generation of new ideas. Without new ideas, growth cannot continue forever if there is a finite technology frontier. This paper examines, in an economy in which firms choose to...