Using a new dataset on household purchases of personal computers (PCs), we document positive correlations between buyers' incomes and the prices they pay for seemingly identical PCs. These results suggest that firms may be successful at separating the market and charging different prices to consumers with different levels of willingness to pay. We consider… (More)
This paper develops a model of technological progress in the microprocessor industry that connects the seemingly disparate engineering and economic measures of technological progress. Technological progress in the microprocessor industry is driven by the repeated adoption of higher quality vintages of capital equipment produced by the upstream semiconductor… (More)
The Producer Price Index (PPI) for the United States suggests that semiconductor prices have barely been falling in recent years, a dramatic contrast from the rapid declines reported from the mid-1980s to the early 2000s. This slowdown in the rate of decline is puzzling in light of evidence that the performance of microprocessor units (MPUs) has continued… (More)
C1q nephropathy is a rare glomerular disease with characteristic mesangial C1q deposition noted on immunofluorescence microscopy. It is histologically defined and poorly understood. Light microscopic features are heterogeneous and comprise minimal change disease (MCD), focal segmental glomerulosclerosis (FSGS), and proliferative glomerulonephritis. Clinical… (More)
P RODUCTIVITY in the U.S. economy picked up in the mid-1990s after two decades of sluggish growth. Many studies have found that productivity growth in information technology (IT)-producing in dustries (computers and communications) accounted for a sizeable portion of the productivity improve ments in the aggregate economy (see Jorgenson 2001; Oliner and… (More)
Applying a centuries-old technique to modern cost estimation.