This paper analyzes the impact of network externalities on R&D competition between an incumbent and a potential entrant … the presence of network externalities. By choosing compatible network goods, firms do not necessarily reduce the R …

that these two types of externalities co-exist, but differ in their spatial distribution and attenuation within cities …-city industry cluster in a diversified, large city appears to let firms enjoy the benefits of local industry-specific externalities …

inequality, and higher productivity growth through automation. In this paper we critically re-assess these predictions by (i … aggregate demand. A second is that the predictions of AI causing massive job losses and faster growth in productivity and GDP … growth and productivity is stagnating and inequality is rising. Our paper provides a theoretical explanation of this in the …