effects of entry-year electricity prices on subsequent energy intensity. We discuss how this "technology lock-in" increases …

valuation of firms in the transition as technology changes, and whether or not share prices are always increasing when … technology improves. We find that there can be a U-shaped transition dynamic, so that an initial boom in share price is followed … by a temporary fall in share price even though the underlying technology is improving. …

that if the technology is already advanced and competition intensifies then firms wouldn’t innovate. The dynamic … interaction we attempt to capture and explain is the one of technology with the possibility of innovation via the intensity of …

theory characterizes how innovation and learning determine technology gaps, trade and global income inequality. Countries …This paper studies the origins and consequences of international technology gaps. I develop an endogenous growth model … where R&D efficiency varies across countries and productivity differences emerge from firm-level technology investments. The …

. Concretely, we run a horse-race among alternative Marshallian linkages across sectors: input-output relations, technology and … labor. Technology has a predictive power depending on the specification used. We consistently find, however, that export …

technology shocks in explaining aggregate fluctuations. To this end we estimate the model's posterior density using Markov …

This paper examines how product market competition affects firms' timing of adopting a new technology as well as …. When goods are differentiated enough, adoption occurs later than it is socially optimal. -- technology adoption …

Rethinking the foundations of Heckscher-Ohlin theory when countries have different technologies, this paper shows how …

This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … different realizations of firm specific technology shocks, possibly leading to default by some firms. The paper advances a new … financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined …