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We find that a firm's investment is highly sensitive to the investments of other firms headquartered nearby, even those in very different industries. It also responds to fluctuations in the cash flows and stock prices (q) of local firms outside its sector. These patterns do not appear to reflect...
Persistent link: https://www.econbiz.de/10012458317
We estimate the demand for a videocalling technology in the presence of both network effects and heterogeneity. Using a unique dataset from a large multinational firm, we pose and estimate a fully dynamic model of technology adoption. We propose a novel identification strategy based on...
Persistent link: https://www.econbiz.de/10012461404
Capital equipment - such as computers and industrial machinery - embodies skill-biased technology, in the sense that it is complementary to skilled labor. Most countries import a large share of their capital equipment, and by doing so import skill-biased technology. In this paper we develop a...
Persistent link: https://www.econbiz.de/10012461199
Computer and Internet use, especially in developing countries, has expanded rapidly in recent years. Even in light of … Internet penetration, both currently and over time, we examine panel data for 161 countries over the 1999-2004 period. We …, telephone density, legal quality and banking sector development are associated with technology penetration rates. Overall, the …
Persistent link: https://www.econbiz.de/10012466283
significant in most specifications for computer use. A similar pattern holds true for Internet use, except that telephone density … differentials. For computers, telephone density and regulatory quality are of second and third importance, while for the Internet …To identify the determinants of cross-country disparities in personal computer and Internet penetration, we examine a …
Persistent link: https://www.econbiz.de/10012468005
A substantial amount of money is spent on technology by schools, families and policymakers with the hope of improving educational outcomes. This paper explores the theoretical and empirical literature on the impacts of technology on educational outcomes. The literature focuses on two primary...
Persistent link: https://www.econbiz.de/10012456438
existence of cities, and aggregate constant returns, implied by balanced growth. To address this tension, we develop a theory of … described by a power distribution with coefficient one: Zipf's Law. Under certain assumptions our theory produces Zipf's Law …
Persistent link: https://www.econbiz.de/10012467423
Macroeconomists acknowledge the contribution of human capital to economic growth, but their empirical studies define human capital solely in terms of schooling. In this paper, we extend production function models of economic growth to account for two additional variables that microeconomists...
Persistent link: https://www.econbiz.de/10012470129
The empirical literature on contagion has mainly measured the propagation of shocks across countries using daily stock markets, interest rates, and exchange rates. Several methodologies have been used for this purpose, however, the properties of the data introduces important limitations on the...
Persistent link: https://www.econbiz.de/10012470611
Do scale economies contribute to our understanding of international trade? Do international trade flows encode information about the extent of scale economies? To answer these questions we examine the large class of general equilibrium theories that imply Helpman-Krugman variants of the Vanek...
Persistent link: https://www.econbiz.de/10012470795