and relatively small fluctuations in productivity. This finding is independent of individuals’ willingness to substitute leisure across time. This and other findings are the result of studying and comparing summary statistics describing this economy, an economy with divisible labor, and post-war U.S. time series

This paper investigates the shift in demand away from unskilled and toward skilled labor in U. S. manufacturing over the 1980s. Production labor-saving technological change is the chief explanation for this shift. That conclusion is based on three facts: (1) the shift is due mostly to increased use

The last few decades have seen a spectacular integration of the global economy through trade. The rising integration of world markets has brought with it a disintegration of the production process, however, as manufacturing or services activities done abroad are combined with those performed

The basic issue concerning production in welfare economics is whether a market solution will yield the socially optimum kinds and quantities of commodities. It is well known that problems can arise for three broad reasons: distributive justice; external effects; and scale economies. This paper

(but decreasing marginal) productivity of labor, reduced growth rates of labor income, excess capacity, and the requirement for downsizing and exit. The last two decades indicate corporate internal control systems have failed to deal effectively with these changes, especially slow growth

productivity, while under weak assumptions, search models predict that the vacancy-unemployment ratio and labor productivity have nearly the same variance. I establish this claim both using analytical comparative statics in a very general deterministic search model and using simulations of a stochastic version

Recent empirical and case study evidence documents a strong association between the adoption of computers and increased use of college educated or non-production workers. With few exceptions, the conceptual link explaining how computer technology complements skilled labor or substitutes

photographic services. These are all examples of products that are strongly complementary, although they need not be consumed in fixed proportions. We describe them as forming systems, which refers to collections of two or more components together with an interface that allows the components to work together

When n identical randomly located nodes, each capable of transmitting at bits per second and using a fixed range, form a wireless network, the throughput @ A obtainable by each node for a randomly chosen destination is 2 bits per second under a noninterference protocol. If the nodes are optimally

the convergence the more exact the approximation. • If the hidden nodes are binary, then thresholding the loopy beliefs is guaranteed to give the most probable assignment, even though the numerical value of the beliefs may be incorrect. This result only holds for nodes in the loop. In the max-product (or "