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After 2004, measured growth in labor productivity and total-factor productivity (TFP) slowed. We find little evidence that the slowdown arises from growing mismeasurement of the gains from innovation in IT-related goods and services. First, mismeasurement of IT hardware is significant prior to...
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This paper studies whether knowledge protection affects shareholder value and firms' investment in knowledge assets … changes in the level of knowledge protection. We find positive (negative) abnormal stock returns around the IDD adoption … knowledge assets. Moreover, the effects on stock returns and knowledge assets investment are stronger in more knowledge …
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This paper develops a framework for measuring digital services in the face of ongoing innovations in the delivery of content to consumers. We capture what Brynjolfsson and Saunders (2009) call "free goods" as the capital services generated by connected consumers' stocks of IT digital goods; this...
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