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Minimum Wages and On-the-Job Training
Acemoglu, Daron; Pischke, Jörn-Steffen - Centre for Economic Performance, LSE - 2002
Becker's theory of human capital predicts that minimum wages should reduce training investments for affected workers because they prevent these workers from taking wage cuts necessary to finance training. In contrast, in noncompetitive labor markets, minimum wages tend to increase training of...
Persistent link: https://www.econbiz.de/10005016812
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The Allocation of Talent over the Business Cycle and its Effect on Sectoral Productivity
Boehm, Michael; Watzinger, Martin - Centre for Economic Performance, LSE - 2012
It is well documented that graduates enter different occupations in recessions than in booms. In this article, we examine the impact of this reallocation for long-term productivity and output across sectors. We develop a model in which talent flows to stable sectors in recessions and to cyclical...
Persistent link: https://www.econbiz.de/10010547597
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Innovation in Business Groups
Belenzon, Sharon; Berkovitz, Tomer - Centre for Economic Performance, LSE - 2007
Using novel data on European firms, this paper examines the effect of business group affiliation on innovation. We find … that business groups foster the scale and novelty of corporate innovation. Group affiliation is particularly important in … industries that rely more on external finance and have a higher degree of information asymmetry. We also find that the innovation …
Persistent link: https://www.econbiz.de/10005151051
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Innovation, Reallocation and Growth
Acemoglu, Daron; Akcigit, Ufuk; Bloom, Nicholas; Kerr, … - Centre for Economic Performance, LSE - 2013
We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A …
Persistent link: https://www.econbiz.de/10010655943
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Motivation and Sorting in Open Source Software Innovation
Belenzon, Sharon; Schankerman, Mark - Centre for Economic Performance, LSE - 2008
innovation. Unlike previous literature based on survey data, we exploit the observed pattern of contributions - the .revealed …
Persistent link: https://www.econbiz.de/10005670637