We measure the impact of a drastic new technology for producing steel, the minimill, on the aggregate productivity of U …'s productivity is linked to this new technology, and operates through two distinct mechanisms. First, minimills displaced the older … technology, called vertically integrated production, and this reallocation of output was responsible for a third of the increase …

organizational structure and technology of rival banks in the vicinity influence local banking competition. …Recent theoretical models argue that a bank’s organizational structure reflects its lending technology. A …. We investigate theoretically and empirically how bank organization shapes banking competition. Our theoretical model …

do not, in the case of indirect network effects, make standardization more likely, but (ii) indirect network effects are … associated with excessive standardization. We show in Clements’ framework that neither of these results are correct …: standardization is more likely as the number of software firms increases and when the type of market equilibrium is unique— there are …

law matures. Contract standardization avoids this cost, statically improving enforcement; but it crowds out innovative …

standardization, that is, left alone the market may fail to achieve standardization when it is socially desirable and (2) even if the …

), we find (a) a negative relationship between the extent to which an SSO is oriented to technology sponsors and the …

hours worked rise or fall when technology improves. Recent literature finds that when hours per person enter the VAR in … following a technology improvement. The issue is the common high-low-high pattern of hours per capita and productivity growth …

observed price patterns. The high volatility results from high uncertainty about the average productivity of a new technology …. Investors learn about this productivity before deciding whether to adopt the technology on a large scale. For technologies that … railroad technology by the late 1850s. …

We review the literature on the links between technology and international trade. The older literature assumed … relationship between each one of these forms of change in technology with international trade. Apart from integrating much of the …