in the paper can generate sizable productivity differences across countries with different contracting institutions and …

division of labor and the equilibrium level of productivity given the division of labor. The impact of contract incompleteness … credit markets on the division of labor and productivity, and study the choice between the employment relationship versus an … organizational form relying on outside contracting. Finally, we derive the implications of our framework for productivity differences …

from country industry variation in the adoption of robots. Our model also implies that the productivity implications of … aging are ambiguous when technology responds to demographic change, but we should expect productivity to increase and labor …

rapidly raising productivity while making workers redundant. This paper explores the evidence for this view among the IT …-using U.S. manufacturing industries. There is some limited support for more rapid productivity growth in IT … expectations, is that output contracts in IT-intensive industries relative to the rest of manufacturing. Productivity increases …