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作者：Bresnahan, TF; Brynjolfsson, E; Hitt, LM
作者单位：Stanford University; Massachusetts Institute of Technology (MIT); University of Pennsylvania
摘要：We investigate the hypothesis that the combination of three related innovations-1) information technology (IT), 2) complementary workplace reorganization, and 3) new products and services-constitute a significant skill-biased technical change affecting labor demand in the United States. Using detailed firm-level data, we find evidence of complementarities among all three of these innovations in factor demand and productivity regressions. In addition, firms that adopt these innovations tend to ...
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作者：Baker, G; Gibbons, R; Murphy, KJ
作者单位：Harvard University; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT); University of Southern California
摘要：Relational contracts-informal agreements sustained by the value of future relationships-are prevalent within and between firms. We develop repeated-game models showing why and how relational contracts within firms (vertical integration) differ from those between (nonintegration). We show that integration affects the parties' temptations to renege on a given relational contract, and hence affects the best relational contract the parties can sustain. In this sense, the integration decision can b...
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作者：Gross, DB; Souleles, NS
作者单位：University of Pennsylvania; National Bureau of Economic Research
摘要：This paper utilizes a unique data set of credit card accounts to analyze how people respond to credit supply. Increases in credit limits generate an immediate and significant rise in debt, counter to the Permanent-Income Hypothesis. The MPC out of liquidity is largest for people starting near their limit, consistent with binding liquidity constraints. However, the MPC is significant even for people starting well below their limit, consistent with precautionary models. Nonetheless, there are ot...
