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The Smart Grid, Entry, and Imperfect Competition in Electricity Markets
Allcott, Hunt - National Bureau of Economic Research (NBER) - 2012
Most US consumers are charged a near-constant retail price for electricity, despite substantial hourly variation in the wholesale market price. The Smart Grid is a set of emerging technologies that, among other effects, will facilitate "real-time pricing" for electricity and increase price...
Persistent link: https://www.econbiz.de/10011271447
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Robots Are Us: Some Economics of Human Replacement
Kotlikoff, Laurence; Benzell, Seth G.; LaGarda, Guillermo; … - National Bureau of Economic Research (NBER) - 2015
Will smart machines replace humans like the internal combustion engine replaced horses? If so, can putting people out of work, or at least out of good work, also put the economy out of business? Our model says yes. Under the right conditions, more supply produces, over time, less demand as the...
Persistent link: https://www.econbiz.de/10011170273
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Volatility and Growth: Credit Constraints and Productivity-Enhancing Investment
Angeletos, George-Marios; Aghion, Philippe; Banerjee, … - National Bureau of Economic Research (NBER) - 2005
We examine how credit constraints affect the cyclical behavior of productivity-enhancing investment and thereby volatility and growth. We first develop a simple growth model where firms engage in two types of investment: a short-term one and a long-term productivity-enhancing one. Because it...
Persistent link: https://www.econbiz.de/10005580267
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Cross-Sectoral Variation in The Volatility of Plant-Level Idiosyncratic Shocks
Castro, Rui Luís de; Lee, Yoonsoo; Clementi, Gian Luca - National Bureau of Economic Research (NBER) - 2011
We estimate the volatility of plant-level idiosyncratic shocks in the U.S. manufacturing sector. Our measure of volatility is the variation in Revenue Total Factor Productivity which is not explained by either industry- or economy-wide factors, or by establishments' characteristics. Consistent...
Persistent link: https://www.econbiz.de/10009652750
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Productivity, Computerization, and Skill Change
Wolff, Edward N. - National Bureau of Economic Research (NBER) - 2002
Using pooled cross-section, time-series data for 44 industries over the decades of the 1960s, 1970s, and 1980s in the United States, I find no econometric evidence that computer investment is positively linked to TFP growth (over and above its inclusion in the TFP measure). However,...
Persistent link: https://www.econbiz.de/10005248863
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Employment, Innovation, and Productivity: Evidence from Italian Microdata
Hall, Bronwyn H; MAIRESSE, Jacques; Lotti, Francesca - National Bureau of Economic Research (NBER) - 2007
presents some empirical evidence on the effects of innovation on employment growth and therefore on firms' productivity with … stemming from process innovation. The sources of employment growth during the period are split equally between the net … contribution of product innovation and the net contribution from sales growth of old products. However, the contribution of product …
Persistent link: https://www.econbiz.de/10005085135
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Innovation and Productivity in SMEs: Empirical Evidence for Italy
Hall, Bronwyn H; MAIRESSE, Jacques; Lotti, Francesca - National Bureau of Economic Research (NBER) - 2008
Innovation in SMEs exhibits some peculiar features that most traditional indicators of innovation activity do not … capture. Therefore, in this paper, we develop a structural model of innovation which incorporates information on innovation … process and product innovation. Both these kinds of innovation have a positive impact on firm's productivity, especially …
Persistent link: https://www.econbiz.de/10005089297
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Measuring the Returns to R&D: The Depreciation Problem
Hall, Bronwyn H - National Bureau of Economic Research (NBER) - 2007
Measuring the private returns to R&D requires knowledge of its private depreciation or obsolescence rate, which is inherently variable and responds to competitive pressure. Nevertheless, most of the previous literature has used a constant depreciation rate to construct R&D capital stocks and...
Persistent link: https://www.econbiz.de/10005079183
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Business Strategy and the Management of Firms
Yang, Mu-Jeung; Kueng, Lorenz; Hong, Bryan - National Bureau of Economic Research (NBER) - 2015
, internal firm organization, performance and innovation, which is representative of the entire Canadian economy. Our empirical … particularly striking for innovation, as firms with some priority in business strategies are significantly more likely to innovate …
Persistent link: https://www.econbiz.de/10011123643
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Sources of Firm Life-Cycle Dynamics: Differentiating Size vs. Age Effects
Kueng, Lorenz; Yang, Mu-Jeung; Hong, Bryan - National Bureau of Economic Research (NBER) - 2014
sheets and innovation, representative of the entire Canadian economy, we study recent theories that examine life … frictions, learning about demand, and recent endogenous growth models with incumbent innovation. We emphasize the importance of … empirical successes and shortcomings of current theory. First, models of organizational capital and innovation are broadly …
Persistent link: https://www.econbiz.de/10010951103