Boyan Jovanovic and Peter L. Rousseau
New York University - Department of Economics
NYU Working Paper No. S-MF-03-03
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.
Number of Pages in PDF File: 30working papers series
Date posted: November 12, 2008
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