Showing 1 - 10 of 2,038
We document a new stylized fact for the life-cycle behavior of consumer prices: relative to a narrowly defined set of competing products, the price of individual products tends to fall over the product lifetime. This holds true for more than 90% of the expenditure items underlying the U.K....
Persistent link: https://www.econbiz.de/10012860579
In a Cournot oligopoly set up with constant marginal cost and linear demand, innovation is rewarding. In this paper we … work with a Cournot oligopoly framework with increasing marginal cost and linear demand and show that innovation may not be … interaction we attempt to capture and explain is the one of technology with the possibility of innovation via the intensity of …
Persistent link: https://www.econbiz.de/10012824572
This paper develops a static model of endogenous task-based technical progress to study how factor scarcity induces technological progress and changes in factor prices. The equilibrium technology is multi-dimensional and not strongly factor-saving in the sense of Acemoglu (2010). Nevertheless,...
Persistent link: https://www.econbiz.de/10012836938
We investigate the relationship between market structure and platforms' incentives to adopt technological innovations in two-sided markets, where platforms may find it optimal to charge zero price on the consumer side and to extract surplus on the advertising side. We consider innovations that...
Persistent link: https://www.econbiz.de/10012822500
theory characterizes how innovation and learning determine technology gaps, trade and global income inequality. Countries … with higher R&D efficiency are richer and have comparative advantage in more innovation-dependent industries where the … innovation-dependence by industry from R&D and bilateral trade data. Calibrating the model implies technology gaps, due to cross …
Persistent link: https://www.econbiz.de/10012866618
The canonical supply-demand model of the wage returns to skill has been extremely influential; however, it has faced several important challenges. Several studies show that the standard approach sometimes produces theoretically wrong-signed elasticities of substitution, yields counterintuitive...
Persistent link: https://www.econbiz.de/10013217553
Over the last decades, hours worked per capita have declined substantially in many OECD economies. Using a neoclassical growth model with endogenous work-leisure choice, we assess the role of trend growth slowdown in accounting for the decline in hours worked. In the model, a permanent reduction...
Persistent link: https://www.econbiz.de/10013222213
globalization. We develop a competence-based definition of technological sovereignty, which puts innovation policy at the core of … cooperation and trade. Two case studies illustrate how innovation policy might be used to achieve technological sovereignty …
Persistent link: https://www.econbiz.de/10013222214
We study the gains from trade in a model with oligopolistic competition, heterogeneous firms and innovation, and … concentration contributes substantially to the gains from trade, mostly via its stimulating effect on innovation. Sizeable gains …
Persistent link: https://www.econbiz.de/10013231972
This paper models the welfare consequences of social fragmentation arising from technological advance. We start from the premise that technological progress falls primarily on market-traded commodities rather than prosocial relationships, since the latter intrinsically require the expenditure of...
Persistent link: https://www.econbiz.de/10013250040