We provide a unified growth model to study the transition from the Solow economy which only uses labor and physical capital in production to the Becker-Lucas economy which uses an additional new accumulative factor, human capital, in production. The model starts with the Solow economy, with the...

We develop a growth model that features the endogenous two-tier innovations of information carrier technology and production technology. Information carrier technology promotes production technology innovation and thus economic growth through improving the preservation and dissemination of...

We build a novel endogenous growth model with information carrier technology, in which knowledge may be lost in storage and dissemination. In the asymptotic balanced growth path equilibrium, we establish two main findings. First, the growth rate of information carrier technology and the...

As a newly emerging factor, data has been widely utilized in producing goods and services, and the nonbalanced growth between digital industries and non-digital industries is significant in recent years. In the digital economy, data has two unique features. One is the fact that data in one...

Residential segregation has been blamed for causing adverse social and economic effects, and contradicting to the ideology of a free and equal society. However, studies have documented that psychological and cultural benefits of such clustering. If households believe that it would provide...

This research explores and quantifies the downside of technological innovations, especially the negative externality of an innovation interacting with the stock of existing innovations. Using two novel datasets, we make a novel empirical finding that the varieties of innovation-induced risks...

The distribution of profit is an essential problem for sequential innovation but still lacks related empirical research. By exploring a unique dataset from a game live streaming platform, we are among the first researchers to empirically measure the contribution of upstream and downstream...