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Firm-level technology adoption in times of crisis

Author

Listed:
  • Arntz, Melanie
  • Böhm, Michael
  • Graetz, Georg
  • Gregory, Terry
  • Lehmer, Florian
  • Lipowski, Cäcilia

Abstract

This study investigates how crises affect firms' adoption of frontier technologies using the Covid-19 pandemic as a case study. The analysis tracks the nature, timing, and pandemic-related motivations of investments among German firms, using longitudinal survey data linked with administrative worker-firm records. We find clear evidence for a shift toward remote work technologies that helped firms mitigate negative employment effects. Overall, however, the pandemic slowed down the diffusion of new technologies. This procyclical pattern of technology adoption is particularly striking since the pandemic created strong incentives to experiment with new technologies.

Suggested Citation

  • Arntz, Melanie & Böhm, Michael & Graetz, Georg & Gregory, Terry & Lehmer, Florian & Lipowski, Cäcilia, 2024. "Firm-level technology adoption in times of crisis," ZEW Discussion Papers 24-057, ZEW - Leibniz Centre for European Economic Research.
    • Handle: RePEc:zbw:zewdip:312176
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    More about this item

    Keywords

    Firm-level technology investments; cyclicality of technology adoption; Covid-19 crisis;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand

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