A new technology or product is often developed by the single entrepreneur. Whether he reaches the initial public offering stage or is acquired by a listed firm, it takes time for the innovator to add value to the stock market. Indeed, the innovation may, at first, reduce the market's value...

Was 1994 a watershed ? It saw an inrease in the rate of technological change in the production of new equipment. It was the start of a sharp rise in income inequality. It signaled the beginning of the productivity slowdown. Were these phenomena related? Could they have been the result of an...

An overlapping generations model of marriage and divorce is constructed to analyze family structure and intergenerational mobility. Agents differ by sex, marital status, and human capital. Single agents meet in a marriage market and decide whether to accept or reject proposals to wed. Married...

Technological progress comes in waves. The birth of information technology (IT) may herald the start of a Third Industrial Revolution. This paper argues that (a) the market declined in the late 1960s because it felt that the old technologies either had lost their momentum or would give way to...