General purpose technologies like information technology typically require complementary firm-specific investments to create value. These complementary investments produce a form of capital, which is typically intangible and which we call digital capital. We create an extended firm-level panel...

General purpose technologies like information technology typically require complementary firm-specific investments to create value. These complementary investments produce a form of capital, which is typically intangible and which we call digital capital. We create an extended firm-level panel...

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...

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...

Digitale Maschinen wie selbstfahrende Autos, Drohnen oder 3D-Drucker sind jetzt schon schlauer, besser und schneller, als man es je für möglich gehalten hätte. Onlineplattformen ändern das Verhältnis von Angebot und Nachfrage und bringen neue Marktführer hervor - in der Musikindustrie,...