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In a new study, the BCG e-Friction Index ranks 65 economies according to four types of e-friction -- infrastructure-related friction that limits basic access; industry and individual friction, both which affect the ability of companies and consumers to engage in online transactions; and information friction, which involves the availability of, and access to, online content.
Reducing Friction in the Internet Economy', shows that high e-friction economies are in danger of missing out on a high-impact propellant of growth and job creation.
These include infrastructure-related frictions that limit basic access; industry and individual frictions that affect the ability of companies and consumers to engage in online transactions; and information frictions that involve availability of, and access to, online content.
The BCG e-Friction Index -- introduced in last year's study -- then used those indicators to rank 65 economies according to four types of e-friction: infrastructure-related frictions that limit basic access, industry and individual frictions that affect the ability of companies and consumers to engage in online transactions, and information frictions that involve availability of, and access to, online content.
The BCG e-Friction Index -- introduced in last year's study -- then used those indicators to rank 65 economies according to four types of e-friction: infrastructure-related frictions that limit basic access; industry and individual frictions that affect the ability of companies and consumers to engage in online transactions; and information frictions that involve availability of, and access to, online content.
The new report, Greasing the Wheels of the Internet Economy, introduces the BCG e-Friction Index, which measures the constraints on Internet use in 65 countries and ranks them according to four types of e-friction: infrastructure-related frictions that limit basic access; industry and individual frictions that affect the ability of companies and consumers to engage in online transactions; and information frictions that involve availability of, and access to, online content.
It will continue to inspire an intense discussion and research agenda over the next decade in academics, in industry, and among financial regulators and a central focus will be the role of frictions in financial markets.
Although these assumptions are similar to those usually found in rational expectations macroeconomic models, the FRB/US model uses a more general description of frictions to more closely match the correlations in historical time-series data.
and Europe, the avoidance of trade frictions ranks about the same as the reduction in product cost, suggesting that a fear of these frictions prompts companies to move their production bases to the countries in which their markets exist.
The new frictions, say some economists, will offer a fresh incentive to improve efficiencies in other ways.
They are infrastructure-related frictions that limit basic access; industry and individual frictions that affect the ability of companies and consumers to engage in online transactions; and information frictions that involve availability of, and access to, online content.
The current de facto standard engineering equation for elastomeric friction calculations--formulated for practical application to sliding tires in 1966--incorporates three dynamic rubber friction forces: (1) adhesion; (2) a hysteretic force arising from bulk deformation of rubber in contact with a macroscopically rough surface; and (3) physical wear of the rubber, or cohesion loss.