nep-knm New Economics Papers
on Knowledge Management and Knowledge Economy
Issue of 2020‒03‒16
six papers chosen by
Laura Ştefănescu
Centrul European de Studii Manageriale în Administrarea Afacerilor

  3. Rotemberg and Imperfect Common Knowledge: A Solution Algorithm By Radek Šauer
  4. Does participation in knowledge networks facilitate international market access? The case of offshore wind By Maria Tsouri; Jens Hanson; Håkon Endresen Normann
  5. The Rise of Star Firms : Intangible Capital and Competition By Ayyagari,Meghana; Demirguc-Kunt,Asli; Maksimovic,Vojislav
  6. Incidence of the Digital Economy and Frictional Unemployment : International Evidence By Lederman,Daniel; Zouaidi,Marwane

  1. By: Radu-Mihai OANTA ("CAROL I" National Defense University, Bucharest, Romania); Toma PLESANU ("Nicolae Balcescu" Land Forces Academy, Sibiu, Romania); Gheorghe MARCU ("CAROL I" National Defense University, Bucharest, Romania)
    Abstract: The knowledge-based society, in which knowledge is much easier to acquire due to the rapid access to information and the alert pace of development of information technology, needs rapid solutions to find reliable sources of information. The article analyses the role of knowledge in contemporary society and the transition towards the organization oriented towards knowledge.
    Keywords: knowledge, information, knowledge-based society, knowledge-based organization
    Date: 2019–11
  2. By: Radu-Mihai OANTA ("CAROL I" National Defense University, Bucharest, Romania); Toma PLESANU ("Nicolae Balcescu" Land Forces Academy, Sibiu, Romania); Gheorghe MARCU ("CAROL I" National Defense University, Bucharest, Romania)
    Abstract: In the current environment, subject to permanent change and sometimes hostile factors, an individual would find it very difficult, if not altogether impossible, to preserve his/her material and spiritual welfare without possessing adequate knowledge. Organizations constantly face a state of fierce competition, therefore insufficient knowledge or its erroneous application may result in disastrous consequences, eventually resulting in decline and disintegration. The aim of the preset paper is to make a historiographical analysis of knowledge interrogation. The aspects and role of knowledge are related chronologically, following the directions set by the researchers in the field.
    Keywords: knowledge, epistemology, data, information processing, knowledge interrogation
    Date: 2019–11
  3. By: Radek Šauer
    Abstract: This paper develops an algorithm that enables to solve macroeconomic models with Rotemberg pricing and imperfect common knowledge. Under the concept of imperfect common knowledge, Rotemberg pricing requires the solution algorithm to take prices explicitly into account. The state space includes the hierarchy of average higher-order expectations as well as the aggregate price level. In addition to determining the usual policy functions of output, inflation, and the nominal interest rate, the algorithm has to search for the policy function of the aggregate price and for the policy function of the firm-specific price.
    Keywords: Rotemberg pricing, dispersed information, heterogenous beliefs, Kalman filter, higher-order expectations
    JEL: C63 D82 E31
    Date: 2020
  4. By: Maria Tsouri (TIK Centre for Technology Innovation and Culture, University of Oslo, Oslo, Norway); Jens Hanson (TIK Centre for Technology Innovation and Culture, University of Oslo, Oslo, Norway); Håkon Endresen Normann (TIK Centre for Technology Innovation and Culture, University of Oslo, Oslo, Norway)
    Abstract: This article explores the effects of knowledge network participation on firms` international market access. We use a unique dataset comprising Norwegian firm data on RD&D (research, development and demonstration) and market participation in offshore wind. The empirical results show that participating in pilot and demonstration projects positively affects firms’ presence in international markets, while we do not observe the same positive effect for R&D projects. However, the econometric evidence shows that increasing extents of international collaborators, particularly from countries with home markets, contributes to a positive effect of R&D project participation on market access, while negative effects are observed for domestic collaborators. The results suggest that transnational knowledge linkages constitute an important mechanism for international market access, especially for countries with weak or absent domestic markets. We suggest that RD&D policy design could benefit from ensuring international collaboration, particularly with partners in countries with domestic markets, and support for demonstration activities.
    Date: 2020–03
  5. By: Ayyagari,Meghana; Demirguc-Kunt,Asli; Maksimovic,Vojislav
    Abstract: There is a divergence in the returns of top-performing firms and the rest of the economy, especially in industries that rely on a skilled labor force, raising concerns about their market power. This paper shows that the divergence is explained by the mismeasurement of intangible capital. Compared with other firms, star firms produce more per dollar of invested capital, have higher growth, innovation, and productivity and are not differentially affected by exogenous competitive shocks. Their pricing power supports their high intangible capital investment. Some exceptional firms may pose concerns due to their potential to foreclose competition in the future.
    Date: 2019–04–29
  6. By: Lederman,Daniel; Zouaidi,Marwane
    Abstract: This paper is the first to quantify the relationship between the incidence of the digital economy and long-term frictional unemployment across countries. The resulting evidence indicates that there is a robust, negative partial correlation between national unemployment rates and the incidence of the digital economy, proxied by the share of the adult population that reports using the internet to pay bills. Further, the absolute values of ordinary least squares estimates of the partial correlation suggest that it might be higher for developing economies than high-income economies. Controlling for the incidence of informal employment appears to be key for removing a positive omitted- variable bias in the estimate of the partial correlation between unemployment and the digital economy, which is due to the existence of a negative bivariate correlation between unemployment and informality on the one hand, and a negative bivariate correlation between informality and the incidence of digital payment on the other hand. The results from instrumental variable estimations suggest that the partial correlation between unemployment and digital payments is negative, with the absolute value of the estimates being larger than the absolute value of the ordinary least squares estimates.
    Date: 2020–03–02

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