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Big Data in Finance and the Growth of Large Firms

Begenau, Juliane - 2018

One of the most important trends in modern macroeconomics is the shift from small firms to large firms. At the same time, financial markets have been transformed by advances in information technology. We explore the hypothesis that the use of big data in financial markets has lowered the cost of...

Persistent link: https://www.econbiz.de/10012920369

Growth Strategies

Rodrik, Dani - 2021

This is an attempt to derive broad, strategic lessons from the diverse experience with economic growth in last fifty years. The paper revolves around two key arguments. One is that neoclassical economic analysis is a lot more flexible than its practitioners in the policy domain have generally...

Persistent link: https://www.econbiz.de/10013223072

Fintech in Sub-Saharan Africa : What Has Worked Well, and What Hasn't

Yermack, David L. - 2018

The FinTech sector has begun to grow rapidly in sub-Saharan Africa. I document far greater adoption of social media, digital currency, ride sharing, and other FinTech applications in countries with a common law legal heritage compared to those with a civil law system, suggesting that legal...

Persistent link: https://www.econbiz.de/10012911469

Demography, Unemployment, Automation, and Digitalization : Implications for the Creation of (Decent) Jobs, 2010–2030

Bloom, David E. - 2018

Globally, an estimated 734 million jobs will be required between 2010 and 2030 to accommodate recent and ongoing demographic shifts, account for plausible changes in labour force participation rates, and achieve target unemployment rates of at or below 4 percent for adults and at or below 8...

Persistent link: https://www.econbiz.de/10012914276

Estimating the Welfare Effects of Digital Infrastructure

Greenstein, Shane M.; Spiller, Pablo T. - 2021

While much economic policy presumes that more information infrastructure yields higher economic returns, little empirical work measures the magnitudes of these returns. We examine investment by local exchange telephone companies in fiber optic cable, ISDN lines and signal seven software,...

Persistent link: https://www.econbiz.de/10013234348

Digitization and the Contract Labor Market : A Research Agenda

Agrawal, Ajay - 2014

of inquiry in this market setting that are central to the broader digitization research agenda: 1) How will the … digitization of this market influence the distribution of economic activity (geographic distribution of work, income distribution … acquisition, machine-aided recommendations)?; 3) How will the digitization of this market affect social welfare (increased …

Persistent link: https://www.econbiz.de/10013062548

The Digitalization of Money

Brunnermeier, Markus Konrad - 2019

The ongoing digital revolution may lead to a radical departure from the traditional model of monetary exchange. We may see an unbundling of the separate roles of money, creating fiercer competition among specialized currencies. On the other hand, digital currencies associated with large platform...

Persistent link: https://www.econbiz.de/10012862410

Accounting for Innovation in Consumer Digital Services : It Still Matters

Byrne, David - 2019

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,...

Persistent link: https://www.econbiz.de/10012867450

Digital Capital and Superstar Firms

Tambe, Prasanna; Hitt, Lorin M.; Rock, Daniel; … - 2022

General purpose technologies like information technology typically require complementary firm-specific investments to create value. These complementary investments produce a form of capital, which is typically intangible and which we call digital capital. We create an extended firm-level panel...

Persistent link: https://www.econbiz.de/10014243983

Twisting the Demand Curve : Digitalization and the Older Workforce

Barth, Erling; Davis, James C.; Freeman, Richard B.; … - 2022

This paper uses U.S. Census Bureau panel data that link firm software investment to worker earnings. We regress the log of earnings of workers by age group on the software investment by their employing firm. To unpack the potential causal factors for differential software effects by age group we...

Persistent link: https://www.econbiz.de/10014244384