Competition and Corporate Performance

Abstract

Since the beginning of the Industrial Revolution, technological change has led to the automation of existing tasks and the creation of new ones, as well as the reallocation of labor across occupations and industries. These processes have been costly to individual workers, but labor demand has remained strong, and real wages have steadily increased in line with productivity growth. I provide evidence suggesting, however, that in recent decades automation has outpaced the creation of new tasks and thus the demand for labor has declined. There is strong disagreement about the future of labor demand, and predictions about technological breakthroughs have a poor track record. Given the importance of overall labor demand for workers' standard of living as well as their ability to adjust to a changing labor market, obtaining accurate forecasts should be a priority for policy makers.

Geographic clustering and productivity: An instrumental variable approach for classical composers

“…Glaeser and Mare, 2001), firms perform better (e.g. Nickell, 1996), visual artists peak earlier (Hellmanzik, 2010); but knowledge on causality is still limited. Are geographic clusters attracting the best or are individuals and firms who cluster the best because of positive externalities associated with cluster locations?…”

The New Imperative of Innovation: Policy Perspectives for Latin America and the Caribbean

“…Specifically, according to Aghion et al (2005), the relationship is an inverted-U, where competition encourages innovation in firms that operate at similar technological levels and discourages innovation in laggard firms, all caused by the difference between the firm's pre-and post-innovation rents. For further analysis see Hart (1980); Schmidt (1997); Aghion et al (2001); Vives (2008) ;Schmutzler (2009Schmutzler ( , 2013Nickell (1996) ;Blundell, Griffith, and Reenen (1999); Aghion et al (2005); Aghion and Griffith (2006); Aghion et al (2014).…”

El efecto de la triple hélice en los resultados de innovación

“…En general, la teoría económica ha relacionado la competitividad entre empresas con un mejor desempeño y mejores prác-ticas (NICKELL, 1996;OKADA, 2005). En el caso de la actividad innovadora, la competitividad entre empresas está ligada con mejores prácticas tecnológicas (BOLDRIN y otros, 2011).…”