We estimate the upper-level elasticity of substitution between goods and services of a nested aggregate CES preference specification. We show how this elasticity can be derived from the long-run ...

Standard measures of competitive toughness fail to capture the fact that, as consumers optimize intertemporally, firms operating today compete with (as yet non-existent) businesses, which will be ...

Taking advantage of the opportunities created by the price adjusted performance improvement in information technology (IT) depends in part on the ability of IT capital to substitute for other inputs ...