This paper develops a general-equilibrium production model of skill-biased technological change that approximates the dramatic upward shift in the share of total income going to the top decile of U.S. households since 1980. Under realistic assumptions, we show that all agents in the economy can...

A growing literature argues that the Information Technology rev- olution caused the stock market crash of 1973-1974, its subsequent stagnation and eventual recovery. This paper employs general equi- librium theory to test whether this good news hypothesis is consistent with the behavior of US...

I use a Bayesian vector autoregressive (VAR) model to investigate the impact of monetary and technology shocks on the euro area stock market in 1987-2005. I find an important role for technology shocks, but not monetary shocks, in explaining variations in real stock prices. The identification...

Die Fußballspieler des FC Bayern München werben für die Kryptobörse Bitpanda, Crypto.com warb mit dem Rapper Eminem während der NBA-Playoffs der Los Angeles Lakers, deren Spielstätte im Jahr 2021 in "Crypto.com Arena" umbenannt wurde. Die Krypto-Community professionalisiert sich zunehmend....

Die Fußballspieler des FC Bayern München werben für die Kryptobörse Bitpanda, Crypto.com warb mit dem Rapper Eminem während der NBA-Playoffs der Los Angeles Lakers, deren Spielstätte im Jahr 2021 in "Crypto.com Arena" umbenannt wurde. Die Krypto-Community professionalisiert sich zunehmend....

Cryptocurrencies provide a unique opportunity to identify how derivatives impact spot markets. They are fully fungible, trade across multiple spot exchanges at different prices, and futures contracts were selectively introduced on bitcoin (BTC) exchange rates against the USD in December 2017....

Domestic outsourcing has grown substantially in developed countries over the past two decades. This paper addresses the question of the technological drivers of this phenomenon by studying the impact of the staggered diffusion of broadband internet in France during the 2000s. Our results confirm...

Firms engaging in innovative practices have patents to prevent competitive forces from eroding the resulting economic rents; however, there is limited evidence regarding the impact of innovation on risk. We shed new light on how firms' involvement in innovation activities impacts their...

This paper analyses changes in the speed of labour demand for new hires in response to the lockdowns that were repeatedly put in place to contain the spread of the COVID-19 pandemic. It tests whether the uncertainty-reducing effect of similar lockdowns occurring in quick succession increased the...