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Knowledge-based Hierarchies: Using Organizations to Understand the Economy

Garicano, Luis; Rossi-Hansberg, Esteban - Centre for Economic Performance, LSE - 2014

We argue that incorporating the decision of how to organize the acquisition, use, and communication of knowledge into … knowledge-based hierarchies to study issues like the evolution of wage inequality, the growth and productivity of firms …

Persistent link: https://www.econbiz.de/10010938555

ORGANIZATION AND INEQUALITY IN A KNOWLEDGE ECONOMY

Garicano, Luis; Rossi-Hansberg, Esteban - London School of Economics and Political Science - 2006

We present an equilibrium theory of the organization of work in an economywhere knowledge is an essential input in … designed to use and communicate their knowledge efficiently. Relativeto autarky, organization leads to larger cross … acquire knowledge lead to opposite implicationson wage inequality and organization than reductions in communication costs.[...] …

Persistent link: https://www.econbiz.de/10008860694

The Knowledge Economy at the turn of the Twentieth Century: the Emergence of Hierarchies

Garicano, Luis; Rossi-Hansberg, Esteban - London School of Economics and Political Science - 2006

The knowledge economy is nothing new. As Chandler’s (1977) classic study documents,improvements in communication …

Persistent link: https://www.econbiz.de/10008860695

OFFSHORING IN A KNOWLEDGE ECONOMY

Antràs, Pol; Garicano, Luis; Rossi-Hansberg, Esteban - London School of Economics and Political Science - 2006

How does the formation of cross-country teams affect the organization of workand the structure of wages? To study this question, we propose a theory of theassignment of heterogeneous agents into hierarchical teams, where less skilledagents specialize in production and more skilled agents...

Persistent link: https://www.econbiz.de/10008860696

The Returns to Knowledge Hierarchies

Garicano, Luis; Hubbard, Thomas N. - London School of Economics and Political Science; … - 2008

Hierarchies allow individuals to leverage their knowledge through others` time.This mechanism increases productivity … andorganization of U.S. lawyers and use an equilibrium model of knowledge hierarchiesinspired by Garicano and Rossi-Hansberg (2006) to …

Persistent link: https://www.econbiz.de/10008860706

Survive Another Day: Using Changes in the Composition of Investments to Measure the Cost of Credit Constraints

Garicano, Luis; Steinwender, Claudia - Centre for Economic Performance, LSE - 2013

We introduce a novel empirical strategy to measure credit shocks. Theoretically, we show that credit shocks reduce the value of long term investments relative to short term ones. Under the (conservative) assumption that demand shocks affect short and long run investments similarly, credit shocks...

Persistent link: https://www.econbiz.de/10010711338

Quantifying the Contribution of Technological Change to Economic Growth in Different Eras: A Review of the Evidence

Crafts, Nicholas F. R. - London School of Economics and Political Science - 2003

Most economic historians would surely endorse Paul Romer's view expressed above that technological progress lies at the heart of long run economic growth. Long ago Kuznets identified the epoch of 'modern economic growth' as one where growth came to be driven by scientific and technological...

Persistent link: https://www.econbiz.de/10005870592

Competition and Innovation in 1950’s Britain

Broadberry, Stephen N.; Crafts, Nicholas F. R. - London School of Economics and Political Science - 2000

We find little support for the Schumpeterian hypothesis of a positiverelationship between market power and innovation … viewed as arisinglargely from the difficulties of reaping the benefits of innovation rather thanfrom a failure to innovate …

Persistent link: https://www.econbiz.de/10005870753