Comment on "Tarnishing the golden and empire states: Land-use regulations and the U.S. economic slowdown," by Herkenhoff, Ohanian, and Prescott
In: Journal of Monetary Economics, Band 93, S. 110-113
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In: Journal of Monetary Economics, Band 93, S. 110-113
In: Journal of political economy, Band 122, Heft 1, S. 52-76
ISSN: 1537-534X
In: FEDS Working Paper No. 2014-25
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Working paper
In: American economic review, Band 110, Heft 9, S. 2819-2858
ISSN: 1944-7981
Data is nonrival: a person's location history, medical records, and driving data can be used by many firms simultaneously. Nonrivalry leads to increasing returns. As a result, there may be social gains to data being used broadly across firms, even in the presence of privacy considerations. Fearing creative destruction, firms may choose to hoard their data, leading to the inefficient use of nonrival data. Giving data property rights to consumers can generate allocations that are close to optimal. Consumers balance their concerns for privacy against the economic gains that come from selling data broadly. (JEL C80, D11, D21, D83, E22, K11, O34)
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In: NBER Working Paper No. w23095
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In: NBER Working Paper No. w18091
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In: American economic review, Band 111, Heft 1, S. 73-128
ISSN: 1944-7981
We study how opening to trade affects economic growth in a model where heterogeneous firms can adopt new technologies already in use by other firms in their home country. We characterize the growth rate using a summary statistic of the profit distribution: the mean-min ratio. Opening to trade increases the profit spread through increased export opportunities and foreign competition, induces more rapid technology adoption, and generates faster growth. Quantitatively, these forces produce large welfare gains from trade by increasing an inefficiently low rate of technology adoption and economic growth. (JEL D21, D24, F14, F43, O33)
In: NBER Working Paper No. w20881
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Working paper
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Working paper
In: NBER Working Paper No. w32309
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In: CEBI Working Paper No. 6, 2024
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In: Journal of political economy, Band 128, Heft 6, S. 2375-2451
ISSN: 1537-534X
In: NBER Working Paper No. w22726
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Working paper
In: NBER Working Paper No. w20973
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