Is The Introduction Of New Goods And Services.
periodical commodity
Periodical of Political Economy
Published By: The Academy of Chicago Press
https://www. jstor .org/stable/1830470
A dynamic general equilibrium model is adult in which goods are valued according to the characteristics they incorporate, the fix of appurtenances produced in whatever period is endogenously determined, and learning by doing is the force backside sustained growth. It is shown that the set of produced goods changes in a systematic way over time, with appurtenances of higher quality entering each flow 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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Source: https://www.jstor.org/stable/1830470
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