中文摘要
IT价格的大幅下跌对加总技术有何含义？当企业层面技术连续可微时，要素价格冲击会导致 投入要素之间的替代和/或 规模报酬的内生反应。第二个渠道由相对要素需求的产出弹性决定。使用法国详细的企业层面数据，我们估计IT要素需求的该弹性为正。一项同时考虑这两种技术渠道的定量分析表明，IT价格的下跌可以解释法国集中度的变化以及加总劳动收入份额构成的大部分变化。(JEL D22, D24, D33, E25, L63, L86)
Abstract
What are the implications of the dramatic fall in IT prices for aggregate technology? When firm-level technologies are continuously differentiable, a factor price shock leads to (i) a substitution between factors and/or (ii) an endogenous response of returns to scale. The second channel is governed by the output elasticity of relative factor demand. Using detailed firm-level data from France, we estimate this elasticity to be positive for IT factor demand. A quantitative exercise accounting for both technological channels shows that falling IT prices can explain much of the changes in concentration and the composition of aggregate labor share in France. (JEL D22, D24, D33, E25, L63, L86)