Title: | Boyan Jovanovic and Peter L. Rousseau |
Authors: | Jovanovic, Boyan |
Issue Date: | Feb-2003 |
Series/Report no.: | S-MF-03-03 |
Abstract: | We model merger waves as reallocation waves, and argue that mergers spread new technology in a way that is similar to that of entry and exit of firms. We focus on two periods: 1890-1930 during which electricity and the internal combustion engine spread through the U.S. economy, and 1971-2001—the Information Age. |
URI: | http://hdl.handle.net/2451/27311 |
Appears in Collections: | Macro Finance |
Files in This Item:
File | Description | Size | Format | |
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S-MF-03-03.pdf | 615.81 kB | Adobe PDF | View/Open |
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