Questions tagged [technology]

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Why hardware companies' market cap is not trillion? [on hold]

What I mean is to say that why hardware companies', like Intel, AMD, etc, market cap is not 'trillion' because they make the hardware on which the software from comapnies like Microsoft, Apple, Amazon,...
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4answers
185 views

Why do companies launch products at much higher prices, only to reduce the price drastically after a few months?

I see this to be a prevalent trend - companies too often launch products at much higher prices than they know is gonna lead to good sales numbers, only to reduce the price drastically after a few ...
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1answer
59 views

How do people check or trust that central bank is not cheating? [closed]

How people can be sure that somebody, cooperating with central bank (or working in it), is not creating money in digital or paper form for themself, so that nobody else notices it?
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2answers
43 views

How do tech giants manage turnover costs?

Lately I was struck by different studies concluding median job tenure at Google, Facebook, Amazon, Microsoft and Apple is 1 to 2 years, very low compared to the Bureau of labor statistics which is a ...
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2answers
32 views

Technological unemployment

I am doing a project on technological change in the job market, that is the substitution of routine occupations and increasing demand for high-skilled jobs. I have done some research on this and now I ...
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1answer
26 views

Understanding what's in the frequently reported and discussed high demand in IT specialists in Germany - is the IT Fachkräftemangel real?

So far, I can observe the following contradictory evidences what I perceive from the media. Statement group #1. In the press, there are repeated reports from different sources about missing ...
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3answers
242 views

Cobb-Douglas production function, given $w$ get $r$ regardless of input levels. Why?

There is a market economy with technology given by: $$Y = K^\alpha L^{1-\alpha} \tag{1}$$ Firms behave competitively and input prices are: $$r = \alpha K^{\alpha-1}L^{1-\alpha} = \alpha(\frac{L}{K})...
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1answer
45 views

Factor-augmenting technologies (Acemoglu and Restrepo 2018c)

In that paper, they consider the following production function: $Y = F(A_KK,A_LL)$. Where: K denotes capital, L is labor, and $A_K$ and $A_L$ denote capital-augmenting and labor-augmenting ...
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16 views

How is labor demand measured?

For instance, in the introduction of this paper (first paragraph), talking about Figure 1, they say that labor demand is measured as the real wage bill normalized by population. Is it common to ...
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0answers
50 views

Can one single payment contain multiple Merchant Category Codes (MCC)? [closed]

Some payment cards can be limited for certain purposes only (e.g. for paying only for food, or only for car fuel). When you try to pay for a different purpose, the system rejects the payment. I ...
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41 views

Does the phenomenon of 4th industrial revolution require new econometric model, or the DSGE models can accomodate it?

Does the phenomenon of 4th industrial revolution (or the technological change/shock that is represented by this loud and un-scientific term) require new econometric model, or the DSGE models can ...
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0answers
18 views

Understanding Boserup's theories on food and overpopulation

From what I understand about Boserup's theories, she claims that when populations grow and near the carrying capacity of whatever habitat they live in, businesses will have incentive to invest in new ...
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0answers
60 views

Research community around logistics micro-economic topics?

Is there the equivalent of a Rand Journal of Economics for the topic of logistics, focusing on the micro-economics of productivity gains via automation or disruptive technologies. There is the ...
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3answers
543 views

Claiming that food delivery apps are purely rent extraction

I engaged in an argument with a friend about whether takeaway food ordering apps had any 'value'. I tried to persuade him that they were rent extraction enterprises but he wasn't convinced. So I want ...
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0answers
49 views

Reference Request: Primer on Relationship Economic Growth and Science / Technology

I'm in the early stages of planning a research agenda in this area, which means studying the current literature with an eye for further research opportunities. The Economics of Science and ...
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2answers
77 views

Productivity and wages in a task-based model

In a task-based model like the one developed in Acemoglu&Autor 2011 with two types of worker, can the low type have a higher wage with respect to the high type? More specifically: if the ...
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2answers
153 views

How technology will help economists to do better predictions?

Would technologies as AI, BI and Big Data help the economists to make better predictions and test models to solve problems like "What level of fiscal stimulus is better for a especific country?" Is ...
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3answers
171 views

Why Is the West providing technology to India? [closed]

Previously, we have seen that Europeans and Americans provided various technologies (high-speed rail[1], aerospace[2][3], microprocessor[4], etc.) to China to earn instantaneous money. Later what ...
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2answers
70 views

What does it mean for a technology to have a $|\rho|<1$?

Nowadays, when trying to model (log)technology $a_t$, I've seen many times the following: $a_t = \rho a_{t-1}+\epsilon$, where epsilon is given a certain probability distribution. What does it mean ...
2
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2answers
621 views

Proxies for technological change in an economy?

I am writing a paper on the application of Value-Added TFP to measurement of technological change. Just thinking of throwing in a few variables into my regression. I have ICT capital share (as seen in ...
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4answers
3k views

Labour Saving vs. Labour Augmenting - what is the difference?

It seems reasonable to say that technology generally increases output per unit of labour. Therefore in any factory which has installed new technology one can reasonably expect that for the same ...
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1answer
32 views

Energy saving technology and energy service price

I want to assess the effects of energy saving technologies on output growth using time series data. My work would benefit from time series data on patents for energy saving innovations, but this is ...
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38 views

Which way is the pendulum swinging with regards to “Access to Capital”

The premise is said best by the economist George Magnus in 2015: "Advances in technological productivity gains are benefiting a limited number of people. The principal rewards of modern technology ...
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1answer
171 views

Help with this microeconomics exercise

The question: A price-taking farmer produces a crop with labor L as the only input. His production function is:$$F(L) = 10L^{1/2} − 2L$$ He has 4 units of labor in his family and he cannot hire ...
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2answers
197 views

How exactly can blockchain technology be used to make a supply chain more efficient?

I am a software developer, and have been studying Bitcoin, Ethereum and blockchain technology over the last 8 months or so. I have read a lot on the Internet about how blockchain technology will ...
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1answer
38 views

Disruptions in Server / Data Center Market

With the advent of cloud computing, data storage and scaling has become extremely cheap when compared to the strictly physical server alternative (which require a dedicated facility and substantial ...
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0answers
173 views

Difference between Value-Added TFP and Gross-Output TFP?

I am working with EU-KLEMS data, and I am using TFP growth as a proxy for technological change. However, there are 2 variables for TFP - TFP based on Gross Output and TFP based on Value Added. I ...
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1answer
93 views

Question about skill-biased technical change, Acemoglu

I am writing about skill-biased technical change, and in particular the 2001 Acemoglu (http://economics.mit.edu/files/283) paper on the topic, in which there is a part I am very stuck on. In the ...
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2answers
274 views

Is Artificial Intelligence a completely new (and underestimated) production factor?

Accenture research defines Artificial Intelligence as completely new production factor along labour and capital. Is such notion acceptable by economists? As far as I understand then every asset of AI ...
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0answers
62 views

Is there proof that today more than 50% of the lowest income society lives worse than 50 years ago

The Economist on 12.11.2016 number (first number after getting US election results) wrote: "In real terms median male earnings are still lower than they were in the 1970s. In the past 50 years, ...
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1answer
56 views

Factoring Technology into Economics models

There has been tremendous improvement in technologies in recent years. My question is: have economists been able to properly evaluate and factor the values of recent innovations in the technology ...
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1answer
32 views

Are there big waves of entrepreneurship over time?

In some models there are times when there are many entrepreneurs, and others when there are not. Is this a stylized fact of some kind? Are there any statistics about how entrepreneurial a particular ...
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1answer
125 views

Why do developing countries adopt 21st century technology, but stay behind in output per capita?

The economic growth rate of Latin America has been about 3% per year for decades; but if you have ever visited, many of the natives have: internet, smartphones, tomography, hybrid cars, etc. Why don'...
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3answers
868 views

Understanding Tertiarization of the Economy

Trying to understand some of the core mechanics of tertiarization in developed economies. According to the WorldBank, "As incomes continue to rise, people’s needs become less “material” and they ...
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2answers
298 views

Is information technology going to turn most “common goods” into private goods?

Common goods, (not public) are so because they are non-excludable and rival. Often this reflects the impracticality of excluding some users, rather than an absolute impossibility. For example, a park ...
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0answers
235 views

Examples of technical progress

I'm wondering if anyone can give me some intuition about technical progress. I can buy the idea that factors improve in quality over time. So 5 workers and/or 5 machines in 1990 can produce more than ...
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5answers
438 views

Have automation and technological advance been shown to have a positive impact on society and the economy or a negative one?

My friends and I, 2 of which are computer science majors think it is worse because is humans can't work and thus afford necessities, how will they survive? The definition of automation: the use of ...
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3answers
147 views

Do machines reduce labor… or so they redistribute, alter, and globally increase labor?

John Stuart Mill famously remarked that labor-saving machines have not saved one minute of labor. More seriously, Marx argued, roughly, that machines can gain temporary market advantage, but cannot ...
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0answers
159 views

Microeconomic Model of Knowledge and Technology

Can you point me to any microeconomic models of knowledge and technology? It is intended to be used for simulation. The problem that arises is that you need to simulate the effects of technology on ...
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2answers
733 views

Neoclassical economic profit and growth theory versus marxian

Marxists have a very specific "profit" and "economic growth" theory. According to marxists, profit doesn't come from technology, whose cost will be reflected in the price of whatever commodity the ...
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2answers
132 views

What are some growth theories that are considered the most correct at the moment?

In under grad intermediate macro classes they often teach the Solow model. While intuitively it makes sense, it seems like it no longer is really taken seriously anymore (I could be wrong). From my ...
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1answer
1k views

factors of production (and their relative contribution)

I am reading mankiw's intermediate economics text. what i find is that when he writes a production function for how much will be produced in an economy. he says it is dependent upon quantity of inputs ...
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2answers
2k views

Why in most macro models technology is labor-augmenting?

Take Romer's advanced macro book as reference. In it the Solow model,the Ramsey model and the Diamond OLG all contain the fundamental $A_t$ variable representing technological progress. In all these ...