Arora, Ashish; Branstetter, Lee G.; Drev, Matej - In: The Review of Economics and Statistics 95 (2013) 3, pp. 757-775
This paper documents a systematic shift in the nature of innovation in information technology (IT) toward increasing dependence on software. Using a broad panel of U.S. and Japanese publicly listed IT firms in the period 1983 to 2004, we show that this change in the nature of IT innovation had...