In recent years, enormous changes are noted worldwide when broad adoption of new Information and Communication Technologies (ICTs). These unique technologies – often perceived as economic development incentives – have a great ability to spread at high pace and low cost in world countries,...

The paper unveils whether ICT diffusion determines development of financial innovation in emerging economies. Particularly, we examine the impact of ICT adoption on changing values of exchange traded funds in Brazil and Mexico, comparing it to the United States as reference country (benchmark)....

We study the dual relationship between market structure and prices and between market structure and investment in mobile telecommunications. Using a uniquely constructed panel of mobile operators' prices and accounting information across 33 OECD countries between 2002 and 2014, we document that...

Can digital information and communication technology (ICT) foster mass political mobilization? We use a novel geo-referenced dataset for the entire African continent between 1998 and 2012 on the coverage of mobile phone signal together with georeferenced data from multiple sources on the...

In recent years, regulatory bodies in Europe and around the world implemented Combinatorial Clock Auctions (CCA) to allocate scarce and valuable spectrum frequencies usage rights. Although the auction design is complex, the promise is that bidding becomes simple. More precisely, bidders may bid...

China's growth strategy as set out in the 11th 5-year plan in 2005 called for upgrading of product quality, the development of an innovation society, and reduced reliance on foreign intellectual property with high license fees. Consistent with this policy, China has been involved in recent years...

This research empirically establishes and theoretically motivates the hypothesis that population aging has a hump-shaped effect on inventive activity. We estimate this hump-shaped relationship in a panel of 33 OECD countries over the period 1960-2012. The increasing part of the hump captures the...

This paper develops a general-equilibrium model of skill-biased technological change that approximates the observed shifts in the shares of wage and non-wage income going to the top decile of U.S. households since 1980. Under realistic assumptions, we find that all agents can benefit from the...

The employability of an aging population in a world of continuous and biased technical change is top of the political agenda. Due to endogenous human capital depreciation the effective retirement age is often below statutory retirement age resulting in permanent non-employability of older...

The determinants of the direction of technical change and their implications for economic growth and economic policy are studied in the one-sector neoclassical growth model of Ramsey, Cass, and Koopmans extended to allow for endogenous capital-and labor-augmenting technical change. We develop a...