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The U.K. skill premium fell from the 1950s to the late 1970s and then rose very sharply. This paper examines the contributions to these relative wage movements of international trade and technical change. We first measure trade as changes in product prices and technical change as TFP growth....
Persistent link: https://www.econbiz.de/10005789090
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 …
Persistent link: https://www.econbiz.de/10011083447
The literature on research joint ventures (RJVs) has emphasized internalizing spillovers and cost-sharing as motives for RJV formation. In this paper we develop two additional explanations: product market complementarities and firm heterogeneity. We analyse a model of RJVs with asymmetric firms...
Persistent link: https://www.econbiz.de/10005662169
To stay on top of global competition, firms and governments often need to acquire innovative goods and services, including ideas and research, from their strategic suppliers. A careful design of procurement policy is crucial to make potential suppliers generate and sell the most suitable...
Persistent link: https://www.econbiz.de/10005791875
Our results on the relationship between R&D spillovers and cooperation in R&D suggest that it is necessary to distinguish different aspects of external information flows. We construct firm-specific measures of incoming spillovers and appropriability from survey data on Belgian manufacturing...
Persistent link: https://www.econbiz.de/10005662294
An inventor can invest research effort to come up with an innovation. Once an innovation is made, a contract is negotiated and unobservable effort must be exerted to develop a product. In the absence of liability constraints, the inventor's investment incentives are increasing in his bargaining...
Persistent link: https://www.econbiz.de/10011084016
We estimate a time series model of weather shocks on English wheat yields for the early nineteenth century and use it to predict weather effects on yield levels from 1697 to 1871. This reveals that yields in the 1690s were depressed by unusually poor weather; and those in the late 1850s were...
Persistent link: https://www.econbiz.de/10011249371
We analyze the joint dynamics of religious beliefs, scientific progress and coalitional politics along both religious and economic lines. History offers many examples of the recurring tensions between science and organized religion, but as part of the paper’s motivating evidence we also...
Persistent link: https://www.econbiz.de/10011262883
This paper documents a decreasing trend in the geographical concentration of EU agro-food imports. Decomposing the concentration indices into intensive and extensive margins components, we find that the decrease in overall concentration indices results from two diverging trends: the pattern of...
Persistent link: https://www.econbiz.de/10005014570
When will a monopolist have incentives to foreclose a complementary market by degrading compatibility/interoperability of his products with those of rivals? We develop a framework where leveraging extracts more rents from the monopoly market by 'restoring' second degree price discrimination. In...
Persistent link: https://www.econbiz.de/10009209834