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Technology-Skill Complementarity and Labor Displacement : Evidence from Linking Two Centuries of Patents with Occupations

Kogan, Leonid; Papanikolaou, Dimitris; Schmidt, Lawrence; … - National Bureau of Economic Research - 2021

We construct new technology indicators using textual analysis of patent documents and occupation task descriptions that span almost two centuries (1850-2010). At the industry level, improvements in technology are associated with higher labor productivity but a decline in the labor share....

Persistent link: https://www.econbiz.de/10012794580

Text Selection

Kelly, Bryan T. - 2019

Text data is ultra-high dimensional, which makes machine learning techniques indispensable for textual analysis. Text is often selected--journalists, speechwriters, and others craft messages to target their audiences' limited attention. We develop an economically motivated high dimensional...

Persistent link: https://www.econbiz.de/10012480461

Text as Data

Gentzkow, Matthew - 2017

An ever increasing share of human interaction, communication, and culture is recorded as digital text. We provide an introduction to the use of text as an input to economic research. We discuss the features that make text different from other forms of data, offer a practical overview of relevant...

Persistent link: https://www.econbiz.de/10012455405

Which News Moves Stock Prices? A Textual Analysis

Boudoukh, Jacob - 2013

A basic tenet of financial economics is that asset prices change in response to unexpected fundamental information. Since Roll's (1988) provocative presidential address that showed little relation between stock prices and news, however, the finance literature has had limited success reversing...

Persistent link: https://www.econbiz.de/10012459936

Words in Patents : Research Inputs and the Value of Innovativeness in Invention

Packalen, Mikko - 2012

Intelligently allocating research effort and funds requires deciding whether to build on recent advances or on more established knowledge. When recent advances create superior opportunities for invention, their adoption as research inputs in the invention process promotes technological progress....

Persistent link: https://www.econbiz.de/10012460166

Supply Chain Risk : Changes in Supplier Composition and Vertical Integration

Ersahin, Nuri; Giannetti, Mariassunta; Huang, Ruidi - National Bureau of Economic Research - 2023

Using textual analysis of earnings conference calls, we quantify firms' supply chain risk and its sources. Our proxy for supply chain risk exhibits large cross-sectional and time-series variation that aligns with reasonable priors and is unprecedently high during the Covid-19 pandemic. In...

Persistent link: https://www.econbiz.de/10014250152

Coase, Hotelling and Pigou : The Incidence of a Carbon Tax and CO2 Emissions

Heal, Geoffrey - 2019

A carbon tax has been widely discussed as a way of reducing fossil fuel use and mitigating climate change, generally in a static framework. Unlike standard goods that can be produced, oil is an exhaustible resource. Parts of its price reflects scarcity rents, i.e., the fact that there is limited...

Persistent link: https://www.econbiz.de/10012480033

Industry Structure, Segmentation, and Competition in the U.S. Hotel Industry

Butters, R. Andrew - 2019

on quality. We examine the U.S. hotel industry during the past half century. We document that starting in the early 1980s …, quality competition came more in the form of costs that vary with hotel size, and less in the form of costs that are fixed … with hotel size, particularly for business travelers. We then show that, consistent with Sutton (1991), industry structure …

Persistent link: https://www.econbiz.de/10012480523

Sticky Price for Declining Risk? : The Case of Cancellation Premia in the Hotel Industry

Lacetera, Nicola; Piga, Claudio A.; Zirulia, Lorenzo - National Bureau of Economic Research - 2021

Using data from about seven millions room postings by hotels in France and the UK, we document that, rather than smoothly decreasing to zero, cancellation premia remain positive at roughly 10% to 15% of the full price until two days before the stay. A model where travelers have different...

Persistent link: https://www.econbiz.de/10012482673

Making friends with your neighbors? Agglomeration and tacit collusion in the lodging industry

Gan, Li - 2011

Agglomeration is a location pattern frequently observed in service industries such as hotels. This paper empirically examines if agglomeration facilitates tacit collusion in the lodging industry using a quarterly dataset of hotels that operated in rural areas across Texas between 2003 and 2005....

Persistent link: https://www.econbiz.de/10012461919