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Bonus Question : Does Flexible Incentive Pay Dampen Unemployment Dynamics?

Gaur, Meghana; Grigsby, John R.; Hazell, Jonathon; … - National Bureau of Economic Research - 2023

We introduce dynamic incentive contracts into a model of unemployment dynamics and present three results. First, wage … cyclicality from incentives does not dampen unemployment dynamics: the response of unemployment to shocks is first … cyclicality from bargaining dampens unemployment dynamics through the standard mechanism. Third, our calibrated model suggests 46 …

Persistent link: https://www.econbiz.de/10014372479

Moral Hazard and Unemployment in Competitive Equilibrium

Rey, Patrick; Stiglitz, Joseph E. - National Bureau of Economic Research - 2024

, that frictions (sand-in-the-wheels) may decrease unemployment and that the equilibrium is determined by two simple …

Persistent link: https://www.econbiz.de/10014635663

Concentrating Intelligence : Scaling and Market Structure in Artificial Intelligence

Korinek, Anton; Vipra, Jai - National Bureau of Economic Research - 2024

This paper examines the evolving structure and competition dynamics of the rapidly growing market for foundation models, with a focus on large language models (LLMs). We describe the technological characteristics that shape the AI industry and have given rise to fierce competition among the...

Persistent link: https://www.econbiz.de/10015145090

Winners and Losers from the Work-from-Home Technology Boon

Davis, Morris A.; Ghent, Andra C.; Gregory, Jesse M. - National Bureau of Economic Research - 2024

We model how an increase in Work-from-Home (WFH) productivity differentially affects workers using a framework in which some workers cannot work offsite, some are hybrid, and some are completely remote. The improvement in WFH productivity increases housing demand and thus housing prices since...

Persistent link: https://www.econbiz.de/10015171687

Inappropriate Technology : Evidence from Global Agriculture

Moscona, Jacob; Sastry, Karthik A. - National Bureau of Economic Research - 2025

An influential explanation for global productivity differences is that frontier technologies are adapted to the high-income countries that develop them and "inappropriate" elsewhere. We study this hypothesis in agriculture using data on novel plant varieties, patents, output, and the global...

Persistent link: https://www.econbiz.de/10015326493

Overconfidence and Technology Adoption in Health Care

Comin, Diego; Skinner, Jonathan; Staiger, Douglas - National Bureau of Economic Research - 2022

Variation in technology adoption is a key driver of differences in productivity. Previous studies sought to explain variations in technology adoption by heterogeneity in profitability, costs of adoption, or other factors. Less is known about how adoption is affected by bias in the perceived...

Persistent link: https://www.econbiz.de/10013361999

Invention Value, Inventive Capability and the Large Firm Advantage

Arora, Ashish; Cohen, Wesley M.; Lee, Honggi; … - National Bureau of Economic Research - 2022

Do large firms produce more valuable inventions, and if so, why? After confirming that large firms indeed produce more valuable inventions, we consider two possible sources: a superior ability to invent, or a superior ability to extract value from their inventions. We develop a simple model that...

Persistent link: https://www.econbiz.de/10013362008

Institutions, Technology and Prosperity

Acemoglu, Daron - National Bureau of Economic Research - 2025

This paper reviews the main motivations and arguments of my work on comparative development, colonialism and institutional change, which was often carried out jointly with James Robinson and Simon Johnson. I then provide a simple framework to organize these ideas and connect them with my...

Persistent link: https://www.econbiz.de/10015326436

The Rise of Absorptive Research in Corporate America : 1945-1980

Arora, Ashish; Belenzon, Sharon; Suh, Jungkyu; Zhang, Hansen - National Bureau of Economic Research - 2025

We study the post-World War II "Golden Age" of American corporate research from 1945 to 1980, using multiple indicators of corporate research activity. We use an ensemble learning approach to classify firms as either Science Leaders, Absorbers or Followers. Our analysis reveals that only a small...

Persistent link: https://www.econbiz.de/10015398165

Automation and Polarization

Acemoglu, Daron; Löbbing, Jonas - National Bureau of Economic Research - 2022

We develop an assignment model of automation. Each of a continuum of tasks of variable complexity is assigned to either capital or one of a continuum of labor skills. We characterize conditions for interior automation, whereby tasks of intermediate complexity are assigned to capital. Interior...

Persistent link: https://www.econbiz.de/10013388884