Add to ORKGIn this paper we study the impact of uncertain innovation on the concomitant time path of stock market valuations and technology adoption. We specify the conditions which may produce valuation and adoption profiles often associated with market ‘bubbles’. The paper evaluates post bubble production and productivity in a setting which incorporates network externalities. When externality forces are weak, a ‘bubbly ’ profile will most likely entail over-adoption and wasted resources. However, if a significant innovation is prone to positive network effects it is probable that the ‘bubbly ’ process boosts post bubble growth and productivity. Uncertainty and externalities may amplify market valuations as well as adoption. We evaluate the probabili...
We examine the hypothesis that the slowdown in productivity following the Great Recession was in sig...
This paper argues that the two boom and bust episodes of the turn of the century--the internet mania...
The adherents of the so-called ‘new economy’ claim that we are entering a new era with high output g...
We develop a model in which innovations in an economy’s growth potential are an important driving fo...
The Web 2.0 phenomenon has produced a number of technology companies that in various rounds of ventu...
Starr Center and the NSF is greatly appreciated. We develop a model in which innovations in an econo...
Abstract: The occurrence of speculative economic bubbles which has been noted from as early as the 1...
During technological revolutions, stock prices of innovative firms tend to exhibit high volatility a...
Uncertainty rises in recessions. But does uncertainty cause downturns or vice versa? This paper argu...
An investment bubble is a period of excessive, and predictably unpro\u85table, investment(DeMarzo, ...
Researchers have lamented the lack of productivity gains during the third technological revolution. ...
This paper argues that the two boom and bust episodes of the turn of the Century – the Internet mani...
Uncertainty plays a key role in economic dynamics, in particular when agents face irreversible choic...
This paper explains market turbulence, such as the recent dotcom boom/bust cycle, as equilibrium ind...
First chapter of this thesis finds a new consumption growth predictor linked to macroeconomic fundam...
We examine the hypothesis that the slowdown in productivity following the Great Recession was in sig...
This paper argues that the two boom and bust episodes of the turn of the century--the internet mania...
The adherents of the so-called ‘new economy’ claim that we are entering a new era with high output g...
We develop a model in which innovations in an economy’s growth potential are an important driving fo...
The Web 2.0 phenomenon has produced a number of technology companies that in various rounds of ventu...
Starr Center and the NSF is greatly appreciated. We develop a model in which innovations in an econo...
Abstract: The occurrence of speculative economic bubbles which has been noted from as early as the 1...
During technological revolutions, stock prices of innovative firms tend to exhibit high volatility a...
Uncertainty rises in recessions. But does uncertainty cause downturns or vice versa? This paper argu...
An investment bubble is a period of excessive, and predictably unpro\u85table, investment(DeMarzo, ...
Researchers have lamented the lack of productivity gains during the third technological revolution. ...
This paper argues that the two boom and bust episodes of the turn of the Century – the Internet mani...
Uncertainty plays a key role in economic dynamics, in particular when agents face irreversible choic...
This paper explains market turbulence, such as the recent dotcom boom/bust cycle, as equilibrium ind...
First chapter of this thesis finds a new consumption growth predictor linked to macroeconomic fundam...
We examine the hypothesis that the slowdown in productivity following the Great Recession was in sig...
This paper argues that the two boom and bust episodes of the turn of the century--the internet mania...
The adherents of the so-called ‘new economy’ claim that we are entering a new era with high output g...