member states from 1998 to 2007. We find that (a) the marginal impact of ICT capital is higher when it is complemented with …

(ICT). But why have the same technologies not similarly increased Europe's labour productivity? This paper provides a … improvement in the ICT can yield significant increases in labour productivity if - and only if - the organization is drastically …

the US productivity revival and in the evolving US-EU productivity gap. In Israel, the ICT sector grew very rapidly during … the success of the ICT sector. The main goal of this paper is to shed light on these twin developments. We use newly … constructed data on industry-level ICT investments between 1990 and 2003 and estimate production functions for manufacturing …

This paper provides evidence that learning about demand is an important driver of firms' dynamics. We present a simple … model with Bayesian learning in which firms are uncertain about their idiosyncratic demand parameter in each of the markets … their beliefs following a new demand shock, the younger they are. To test this learning mechanism, we make use of a specific …

correlated learning may render it optimal to enter markets sequentially – an investment in market A is only followed by entry in …, we identify correlated learning across markets beyond alternative explanations as a key driver of gradualism in the …

learning by policymakers, who update their beliefs on the basis of their own experience and of the policies adopted by other … countries. We emphasize the impact of financial crises on the learning process. The learning model developed in the paper … rational learning by policymakers. Finally, in evaluating the potential benefits and costs of capital controls in a given set …