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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.
Appears in Collections:Macro Finance

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