Purpose – The purpose of this paper is to study the growth dynamics in a model where labor productivity is shaped by two forces. On one hand, it is determined by the extent in which available technology has been already explored. On the other hand, some labor skills may become obsolete,...

The most influential explanations of economic growth along the past five decades rely on two main items: human capital accumulation and the dissemination of knowledge/technological diffusion. These items traditionally appear as separate growth sources. In this paper an integrated perspective is...