The Changing Economics of Knowledge Production
利用招聘和工资数据估算企业的数据存量与知识生产函数，量化大数据技术对产出、要素份额和收入分配的长期影响，发现投资管理行业劳动收入份额将下降5%，变化幅度堪比工业革命。
Abstract Big data technologies change the way in which data and labor combine to create knowledge. Is this a modest innovation or a data revolution? Using hiring and wage data, we estimate firms’ data stocks and their knowledge production functions. Quantifying changes in production functions informs us about the likely long-run changes in output, in factor shares, and in the distribution of income, due to big data technologies. For the investment management industry, our structural estimates predict a 5% decline in the labor share of income; that change is comparable to similar estimates for the industrial revolution. Authors have furnished an Internet Appendix, which is available on the Oxford University Press Web site next to the link to the final published paper online