6,580 research outputs found

    News Brief (September 27th – October 5th, 2012)

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    This document is part of a digital collection provided by the Martin P. Catherwood Library, ILR School, Cornell University, pertaining to the effects of globalization on the workplace worldwide. Special emphasis is placed on labor rights, working conditions, labor market changes, and union organizing.CLW_2012_Report_China_news_brief.pdf: 53 downloads, before Oct. 1, 2020

    Distributed Channel Quantization for Two-User Interference Networks

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    We introduce conferencing-based distributed channel quantizers for two-user interference networks where interference signals are treated as noise. Compared with the conventional distributed quantizers where each receiver quantizes its own channel independently, the proposed quantizers allow multiple rounds of feedback communication in the form of conferencing between receivers. We take the network outage probabilities of sum rate and minimum rate as performance measures and consider quantizer design in the transmission strategies of time sharing and interference transmission. First, we propose distributed quantizers that achieve the optimal network outage probability of sum rate for both time sharing and interference transmission strategies with an average feedback rate of only two bits per channel state. Then, for the time sharing strategy, we propose a distributed quantizer that achieves the optimal network outage probability of minimum rate with finite average feedback rate; conventional quantizers require infinite rate to achieve the same performance. For the interference transmission strategy, a distributed quantizer that can approach the optimal network outage probability of minimum rate closely is also proposed. Numerical simulations confirm that our distributed quantizers based on conferencing outperform the conventional ones.Comment: 30 pages, 4 figure

    Intelligent Control and Protection Methods for Modern Power Systems Based on WAMS

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    Product Variety, Innovation and Growth

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    This thesis aims to provide new insights on the different mechanisms that facilitate innovation and their relative importance in driving growth. Innovation is an important engine for economic growth and considerable effort has been devoted in understanding how technical change drives aggregate growth. Most literature in the field has focused on counting patents or survey based work of particular industries, for short samples. In this thesis, we open new avenues for research in firm innovation creating firm level measures that are available for long time series and across all industries (manufacturing and service). We propose three different measures that allow for the identification and classification of firm products, process and product innovations, and clean technologies at the firm level for public and private firms. Furthermore, we propose methods of aggregating these measures at the industry and economy level. We use the newly proposed measures in applications ranging from firm value in corporate finance to aggregate economic impact in macroeconomics. The new proposed measures allow for differentiation across innovation mechanisms that are paramount for setting innovation policy \citep{klenow2019, Hall2011, Atkeson2019}

    Generalists versus Specialists: The Board’s Revealed Perception of CEO General Skill and CEO Pay

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    We create a new index of a CEO’s general skills across industries using compensation peer group that reveals the board of directors’ perception of these skills and thus overcome several empirical difficulties faced by existing measures using the CEO’s working experience and education. Consistent with the fact that generalist CEOs can work in multiple industries, we find their compensation is more likely to be driven by their employment options in outside industries, and thus their pay is less affected by industry-specific shocks and less volatile. They also get higher pay in places where their ability to work in multiple industries is in demand. However, in contrast to the current theoretical prediction and empirical finding that generalist CEOs earn a wage premium, we find no evidence that generalist CEOs earn higher pay than specialist CEOs on average. We further show the empirical finding of the pay premium of generalist CEOs based on lifetime working experience is unlikely to be driven by the general skills since it is not explained by the CEO’s employment options across industries. Rather, it could be due to the noises captured in the measure such as CEO’s stronger managerial power. We find generalist CEOs based on lifetime working experience are often the chairman of the board, and they often manipulate their compensation peer group to bias their pay up. We further confirm their higher pays are not due to their ability or talent since they perform worse than specialist CEOs. Overall, we find no support for the theory that generalist CEOs earn a pay premium, and thus it is unlikely to have significant power in explaining the trend in executiv
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