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on Knowledge Management and Knowledge Economy |
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Issue of 2024‒06‒24
four papers chosen by Laura Nicola-Gavrila, Centrul European de Studii Manageriale în Administrarea Afacerilor |
| By: | Chatterjee, Sidharta |
| Abstract: | In this paper I discuss what we mean by a “Tacit Knowledge Space” (TKS) and how it relates to organizational efficiency. The idea of tacit knowledge space is a borrowed concept from Michael Polanyi’s seminal work and it derives a rich understanding of an organizational space which is occupied by knowledge dimension characterizing the implicit aspects of knowledge transfer and decodification of the tacit component of learning and skill development into its more readily applicable explicit counterpart. This TKS is a growing space in knowledge organizations and workplaces that is found to be immensely useful among the knowledge workers of today. We discuss these issue and construct a structural frame to model such a space that has organizational implications and contributes to employee efficiency in the long run. |
| Keywords: | Tacit dimension, tacit knowledge space, knowledge workers, organizational efficiency. |
| JEL: | O3 |
| Date: | 2023–11–17 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:117952&r= |
| By: | Koike Yasutaka-Mori; Toshitaka Maruyama; Koki Okumura |
| Abstract: | This paper develops an endogenous growth model that incorporates a frictional inventor market and examines the allocation of inventors across firms, knowledge diffusion, and its impact on growth. In our model, inventors play dual roles: they engage in in-house R&D and transfer knowledge from previous employers to new ones when changing jobs. Using an administrative panel dataset on German inventors matched to their employing establishments and patents, we find that, relative to general workers, inventors are more likely to transition to less productive establishments and suffer a higher wage growth via the transition. We also find that the knowledge base of establishments measured by patents grows faster when a significant proportion of their inventors originate from establishments possessing a larger knowledge base. We then calibrate the model to reflect these empirical findings and examine the effects of innovation policy. While subsidies to frontier firms discourage knowledge diffusion from these firms to technologically lagging firms, these subsidies also encourage innovation within frontier firms. The former negative effect dominates in the short term, but the latter positive effect dominates in the long run. |
| Date: | 2024–03 |
| URL: | https://d.repec.org/n?u=RePEc:dpr:wpaper:1244&r= |
| By: | Gang Hu; Ming Gu |
| Abstract: | Investment portfolios, central to finance, balance potential returns and risks. This paper introduces a hybrid approach combining Markowitz's portfolio theory with reinforcement learning, utilizing knowledge distillation for training agents. In particular, our proposed method, called KDD (Knowledge Distillation DDPG), consist of two training stages: supervised and reinforcement learning stages. The trained agents optimize portfolio assembly. A comparative analysis against standard financial models and AI frameworks, using metrics like returns, the Sharpe ratio, and nine evaluation indices, reveals our model's superiority. It notably achieves the highest yield and Sharpe ratio of 2.03, ensuring top profitability with the lowest risk in comparable return scenarios. |
| Date: | 2024–05 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2405.05449&r= |
| By: | Can Sever |
| Abstract: | Violent conflicts are typically associated with a long-lasting drag on economic output, yet establishing causality based on macro-data remains as a challenge. This study attempts to build causality in the conflict-growth nexus by exploiting within-country variation across industries’ technological intensity. It identifies a channel through which conflicts can impact growth, i.e., by hindering R&D activities. The analysis is based on industry-level data from two-digit manufacturing industries for a large sample of countries over the last four decades. The results show that conflicts lead to a decline in labor productivity growth, particularly in industries with higher technological intensity. The estimated magnitude of the differential effect of conflicts on labor productivity growth in high-tech industries is large. Moreover, the additional labor productivity loss in those industries in the years of conflicts does not seem to be offset in the post-conflict period neither. The findings offer insight into the observed patterns of durable declines in income in the aftermath of conflicts, considering the role of technological progress and innovation in long-term economic growth. |
| Keywords: | Conflict; war; R&D; innovation; high-tech; economic growth and development |
| Date: | 2024–05–10 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2024/098&r= |