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Automation, new technology and non-homothetic preferences
Struck, Clemens C.; Velic, Adnan - 2019
To rationalize a substantial income share of labor despite progressive task automation over the centuries, we present a simple model in which demand moves along a vertically differentiated production structure toward goods of increasing sophistication. Automation of more sophisticated goods...
Persistent link: https://www.econbiz.de/10012012963
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Informing consumers about their own preferences
Peitz, Martin; Inderst, Roman - 2012
We analyze a model of monopolistic price discrimination where only some consumers are originally sufficiently informed about their preferences, e.g., about their future demand for a utility such as electricity or telecommunication. When more consumers become informed, we show that this benefits...
Persistent link: https://www.econbiz.de/10011489927
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Experimentation in two-sided markets
Peitz, Martin; Rady, Sven; Trepper, Piers - 2013
We study optimal experimentation by a monopolistic platform in a two-sided mar- ket. The platform provider faces uncertainty about the strength of the externality each side is exerting on the other. It maximizes the expected present value of its profit stream in a continuous-time...
Persistent link: https://www.econbiz.de/10011490256
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On the interaction of growth, trade and international macroeconomics
Struck, Clemens C. - 2017
Standard economic theories have severe difficulties in simultaneously explaining a number of key aggregate empirical facts: i) there are substantial differences in capital-labor ratios across time ii) despite continuously increasing capital-labor ratios, both factors still earn non-negligible...
Persistent link: https://www.econbiz.de/10011742669
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Innovate to lead or innovate to prevail : when do monopolistic rents induce growth?
Piazza, Roberto; Zheng, Yu - 2019
This paper extends the Schumpeterian model of creative destruction by allowing followers' cost of innovation to …
Persistent link: https://www.econbiz.de/10012155163
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Tracing productivity growth channels in the UK
Garcia-Macia, Daniel; Korosteleva, Julia - 2021
traces the sources of TFP growth in the UK over the last two decades through the lens of a structural model of innovation …, using registry data on the universe of firms. The dominant innovation source in the pre-GFC decade were improvements by … recovery, survey data suggests that creative destruction (i.e., innovation replacing other firms' products) is expected to gain …
Persistent link: https://www.econbiz.de/10012795165
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Globalization and multiproduct firms
Nocke, Volker; Yeaple, Stephen R. - 2013
We present an international trade model with multiproduct firms. Firms are heterogeneously endowed with two types of capabilities that jointly determine the trade-off within firms between managing a large portfolio of products and producing at low marginal cost. The model can explain many of the...
Persistent link: https://www.econbiz.de/10011490272
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Institutions, innovations, and Growth
Xu, Chenggang - 1999
The fundamental importance of economic institutions for economic growth through their impact on technological change has been argued, reconfirmed by recent empirical studies, but not examined theoretically. This paper tries to fill that gap. In the model proposed, economic growth is affected by...
Persistent link: https://www.econbiz.de/10014403467
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Productivity effects of trade in natural resources : comparison with mechanisms of technological specialisation
Zarach, Zuzanna; Parteka, Aleksandra - 2022 - This version: April 2022
This paper compares two alternative growth paths, assessing the effects on productivity of specialisation in natural resources (NR) and in technologically advanced products. The empirical analysis exploits product-level export data for 109 developing and 51 developed economies over the period...
Persistent link: https://www.econbiz.de/10013175560
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Labour markets in a Post-Keynesian growth model : the effects of endogenous productivity growth and working time reduction
Ederer, Stefan; Rezai, Armon - 2020
Persistent link: https://www.econbiz.de/10012212107