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We construct a model where the equilibrium organization of firms changes as an economy approaches the world technology frontier. In vertically integrated firms, owners (managers) have to spend time both on production and innovation activities, and this creates managerial overload, and...
Persistent link: https://www.econbiz.de/10013247392
We construct a model where the equilibrium organization of firms changes as an economy approaches the world technology frontier. In vertically integrated firms, owners (managers) have to spend time both on production and innovation activities, and this creates managerial overload, and...
Persistent link: https://www.econbiz.de/10012469519
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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 …
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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 …
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