This paper aims at quantifying the economic value of knowledge spillovers by exploring information contained in patent citations. We estimate a market valuation equation for semiconductor firms during the 1980s and 1990s, and find an average value in the amount of $0.6 to 1.2 million...

Employed technologies differ vastly across countries. Within countries many technologies that would obviously improve firms' efficiency are not adopted. This paper explains these observations by emphasizing that a new technology positively affects workers by lowering prices and increasing their...

Demand for less skilled workers decreased dramatically in the US and in other developed countries over the past two decades. We argue that pervasive skill biased technological change rather than increased trade with the developing world is the principal culprit. The pervasiveness of this...

La nouvelle economie a comme effects visibles d'accroitre considerablement l'intensite capitalistique, donc la productivite du travail. Ceci peut provenir de deux mecanismes. Un mecanisme "actif" ou il est optimal pour les entreprises d'accroitre l'intensite capitalistique parce que, en raison...

Nous essayons de comprendre les evolutions observees en France en ce qui concerne la part des salariesdans la valeur ajoutee, les salaires reels, l'emploi, le rapport capital-travail, la productivite apparente des facteurs. Nous utilisons pour cela un modele theorique a generations imbriquees...

Gains from productivity and knowledge transmission arising from the presence of foreign firms have received a good deal of empirical attention, but theoretical micro-foundations for this mechanism are limited. Here we develop a dynamic model in which foreign experts may train domestic workers...

The distribution of human capital and income lies at the center of a nexus of forces that shape a country’s economic, institutional and technological structure. I develop here a unified model to analyse these interactions and their growth consequences. Five main issues are addressed. First, I...

We analyze the effects of neutral and investment-specific technology shocks on hours and output. Long cycles in hours are captured in a variety of ways. Hours robustly fall in response to neutral shocks and robustly increase in response to investment specific shocks. The percentage of the...

This Paper investigates whether there is convergence in Total Factor Productivity towards the technological frontier at the establishment level. We find convergence to the frontier is statistically and quantitatively important, suggesting the existence of technology spillovers. Foreign...

This paper presents a theoretical model to analyze the effects of technology change on growth rates of income and human capital in the uncertain environments of technology. The uncertainty comes from two sources; the possibility of a technology advance and the characteristics of new...