| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23987 |
| 来源ID | Working Paper 23987 |
| Digital Innovation and the Distribution of Income | |
| Dominique Guellec; Caroline Paunov | |
| 发表日期 | 2017-11-06 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | Income inequalities have increased in most OECD countries over the past decades; particularly the income share of the top 1%. In this paper we argue that the growing importance of digital innovation – new products and processes based on software code and data – has increased market rents, which benefit disproportionately the top income groups. In line with Schumpeter’s vision, digital innovation gives rise to ”winner-take-all” market structures, characterized by higher market power and risk than was the case in the previous economy of tangible products. The cause for these new market structures is digital non-rivalry, which allows for massive economies of scale and reduces costs of innovation. The latter stimulates higher rates of creative destruction, leading to higher risk as only marginally superior products can take over the entire market, hence rendering market shares unstable. Instability commands risk premia for investors. Market rents accrue mainly to investors and top managers and less to the average workers, hence increasing income inequality. Market rents are needed to incentivize innovation and compensate for its costs, but beyond a certain level they become detrimental. Public policy may stimulate innovation by reducing ex ante the market conditions which favor rent extraction from anti-competitive practices. |
| 主题 | Microeconomics ; Households and Firms ; Market Structure and Distribution ; Industrial Organization ; Market Structure and Firm Performance ; Development and Growth ; Innovation and R& ; D |
| URL | https://www.nber.org/papers/w23987 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/581662 |
| 推荐引用方式 GB/T 7714 | Dominique Guellec,Caroline Paunov. Digital Innovation and the Distribution of Income. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w23987.pdf（1508KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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