Information Technology and Returns to Scale
研究了IT价格大幅下降如何通过要素替代和规模报酬内生变化影响总体技术，利用法国企业数据发现IT要素需求产出弹性为正，并量化了IT价格下降对法国集中度和劳动份额变化的解释力。
What are the implications of the dramatic fall in IT prices for aggregate technology? When firm-level technologies are continuously differentiable, a factor price shock leads to (i) a substitution between factors and/or (ii) an endogenous response of returns to scale. The second channel is governed by the output elasticity of relative factor demand. Using detailed firm-level data from France, we estimate this elasticity to be positive for IT factor demand. A quantitative exercise accounting for both technological channels shows that falling IT prices can explain much of the changes in concentration and the composition of aggregate labor share in France.