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What's Driving the New Economy : The Benefits of Workplace Innovation

Black, Sandra E. - 2000

relationship between workplace innovations and establishment productivity and wages. We match plant level practices with plant … establishments. When we examine the determinants of wages within these establishments, we find that re-engineering a workplace to … incorporate more high performance practices leads to higher wages. However, increasing the usage of profit sharing or stock …

Persistent link: https://www.econbiz.de/10012471297

Fairness and Redistribution : U.S. versus Europe

Alesina, Alberto - 2003

Different beliefs about how fair social competition is and what determines income inequality, influence the … redistributive policy chosen democratically in a society. But the composition of income in the first place depends on equilibrium tax … policies. If a society believes that individual effort determines income, and that all have a right to enjoy the fruits of …

Persistent link: https://www.econbiz.de/10012469200

A Growth Model of the Data Economy

Farboodi, Maryam; Veldkamp, Laura - National Bureau of Economic Research - 2021

The rise of information technology and big data analytics has given rise to "the new economy." But are its economics new? This article constructs a growth model where firms accumulate data, instead of capital. We incorporate three key features of data: 1) Data is a by-product of economic...

Persistent link: https://www.econbiz.de/10012482643

Patents and the Survival of Internet-related IPOs

Cockburn, Iain M. - 2007

We examine the effect of patenting on the survival prospects of 356 internet-related firms that IPO'd at the height of the stock market bubble of the late 1990s. By March 2005, nearly 2/3 of these firms had delisted from the NASDAQ exchange. Although changes in the legal environment in the US in...

Persistent link: https://www.econbiz.de/10012465507

A Short Note on the Size of the Dot-Com Bubble

DeLong, J. Bradford - 2006

A surprisingly large amount of commentary today marks the beginning of the dot-com bubble of the late 1990s from either the Netscape Communications initial public offering of 1995 or Alan Greenspan's "irrational exuberance" speech of 1996. We believe that this is wrong: we see little sign that...

Persistent link: https://www.econbiz.de/10012466660

Asset Float and Speculative Bubbles

Hong, Harrison - 2005

We model the relationship between asset float (tradeable shares) and speculative bubbles. Investors trade a stock with limited float because of insider lock-ups. They have heterogeneous beliefs due to overconfidence and face short-sales constraints. A bubble arises as price overweighs optimists'...

Persistent link: https://www.econbiz.de/10012467316

Was There a Nasdaq Bubble in the Late 1990s?

Pastor, Lubos - 2004

Not necessarily. The fundamental value of a firm increases with uncertainty about average future profitability, and this uncertainty was unusually high in the late 1990s. We calibrate a stock valuation model that includes this uncertainty, and show that the uncertainty needed to match the...

Persistent link: https://www.econbiz.de/10012468112

Speculative Growth : Hints from the US Economy

Caballero, Ricardo - 2004

We propose a framework for understanding recurrent historical episodes of vigorous economic expansion accompanied by extreme asset valuations, as exhibited by the U.S. in the 1990s. We interpret this phenomenon as a high-valuation equilibrium with a low effective cost of capital based on...

Persistent link: https://www.econbiz.de/10012468175

The Labour Market in the New Information Economy

Freeman, Richard B. - 2002

as higher wages; that IT occupations are rapidly increasing their share of employment; that job search and recruitment …

Persistent link: https://www.econbiz.de/10012469455

Stock Market Boom and the Productivity Gains of the 1990s

Jermann, Urban - 2002

Together with a sense of entering a New Economy, the US experienced in the second half of the 1990s an economic expansion, a stock market boom, a financing boom for new firms and productivity gains. In this paper, we propose an interpretation of these events within a general equilibrium model...

Persistent link: https://www.econbiz.de/10012469679

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