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Recently, the relative demand for skilled labor has increased dramatically. We investigate one of the causes, skill-biased technical change. Advances in information technology (IT) are among the most powerful forces bearing on the economy. Employers who use IT often make complementary...
Persistent link: https://www.econbiz.de/10012471658
In recent years, the designs of many new blockchain applications have been inspired by the Byzantine fault tolerance (BFT) problem. While traditional BFT protocols assume that most system nodes are honest (in that they follow the protocol), we recognize that blockchains are deployed in...
Persistent link: https://www.econbiz.de/10012696424
In this paper we study how the existence of a functioning market for technology differentially conditions the entry strategy and survival of different types of entrants, and the role of scale, marketing ability and technical assets. Markets for technology facilitate entry of firms that lack...
Persistent link: https://www.econbiz.de/10012465005
particularly attractive locations to offshore? In this paper we address these questions with a theory of international production … hierarchies in which organizations arise endogenously to make efficient use of agents' knowledge. Our theory highlights the role …
Persistent link: https://www.econbiz.de/10012466472
We present a theory of the organization of work in an economy where knowledge is an essential input in production: a … may produce on their own or in organizations. Our theory generates an assignment of workers to positions, a wage structure … referral markets. We use our theory to study the impact of information and communication technology, and contrast its …
Persistent link: https://www.econbiz.de/10012467222
Electricity and Information Technology (IT) are perhaps the two most important general purpose technologies (GPTs) to date. We analyze how the U.S. economy reacted to them. The Electricity and IT eras are similar, but also differ in several important ways. Electrification was more broadly...
Persistent link: https://www.econbiz.de/10012467592
This paper considers two challenges that improvements in private-sector information-processing capabilities may pose for the effectiveness of monetary policy. It first considers the consequences of improved information about central-bank actions, and argues that the management of expectations...
Persistent link: https://www.econbiz.de/10012470041
We examine two factors frequently thought to be changing the U.S. workplace, high performance work practices and computer use, and their relationships with pay using a national probability sample of U.S. establishments. The analysis controls for both organizational and individual characteristics...
Persistent link: https://www.econbiz.de/10012470751
A new technology or product is often developed by the single entrepreneur. Whether he reaches the public offering stage or is acquired by a listed firm it takes time for the innovator to add value to the stock market. Indeed first, reduce the market's value because some firms -- usually large or...
Persistent link: https://www.econbiz.de/10012471876
theory and relates them to how supply chains are organized …
Persistent link: https://www.econbiz.de/10012472323