This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Product Innovation and the Business Cycle

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Jovanovic, Boyan
Lach, Saul

Additional information is available for the following registered author(s):

Abstract

Micreconomic data show two important facts about new products. First, some products are more important than others. Second, it takes them years to penetrate the market significantly. The authors' calibrated model with these features overpredicts the autocovariance of U.S. GNP at long lags but underpredicts it at short lags. The latter is not surprising since the model leaves out other obvious high-frequency shocks. The puzzle is why the U.S. GNP data do not show stronger autocorrelation at higher lags. A surprising finding is that, while the speed of diffusion has huge level effects, it plays a minor role in shaping the business cycle. Copyright 1997 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

Download Info
To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Publisher Info
Article provided by Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association in its journal International Economic Review.

Volume (Year): 38 (1997)
Issue (Month): 1 (February)
Pages: 3-22
Download reference. The following formats are available: HTML, plain text, BibTeX, RIS (EndNote), ReDIF
Handle: RePEc:ier:iecrev:v:38:y:1997:i:1:p:3-22

Contact details of provider:
Postal: 160 McNeil Building, 3718 Locust Walk, Philadelphia, PA 19104-6297
Phone: (215) 898-8487
Fax: (215) 573-2057
Email:
Web page: http://www.ssc.upenn.edu/econ/iereview/
More information through EDIRC

Order Information:
Email:
Web: http://www.blackwellpublishing.com/subs.asp?ref=0020-6598

For technical questions regarding this item, or to correct its listing, contact: ().

Related research
Keywords:

Other versions of this item:

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)
  1. Jeremy Greenwood & Boyan Jovanovic, 2000. "Accounting for Growth," RCER Working Papers 475, University of Rochester - Center for Economic Research (RCER). [Downloadable!]
    Other versions:
  2. Patrick Francois & Huw Lloyd-Ellis, 2001. "Animal Spirits meets Creative Destruction," Cahiers de recherche CREFE / CREFE Working Papers 130, CREFE, Université du Québec à Montréal. [Downloadable!]
    Other versions:
  3. Lilia Maliar & Serguei Maliar, 2003. "Endogenous Growth And Endogenous Business Cycles," Working Papers. Serie AD 2003-14, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie). [Downloadable!]
    Other versions:
  4. David Andolfatto & Glenn MacDonald, 1998. "Technology Diffusion and Aggregate Dynamics," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 1(2), pages 338-370, April. [Downloadable!] (restricted)
    Other versions:
  5. Patrick Francois & Huw Lloyd-Ellis, 2005. "I - Q Cycles," Working Papers 1040, Queen's University, Department of Economics. [Downloadable!]
    Other versions:
  6. Julio J. Rotemberg, 2003. "Stochastic Technical Progress, Smooth Trends, and Nearly Distinct Business Cycles," American Economic Review, American Economic Association, vol. 93(5), pages 1543-1559, December. [Downloadable!] (restricted)
  7. Heger, Diana, 2004. "The Link Between Firms’ Innovation Decision and the Business Cycle : An Empirical Analysis," ZEW Discussion Papers 04-85, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
  8. Tsuyoshi Nakamura & Hiroshi Ohashi, 2005. "Technology Adoption, Learning by Doing, and Productivity: A Study of Steel Refining Furnaces," CIRJE F-Series CIRJE-F-368, CIRJE, Faculty of Economics, University of Tokyo. [Downloadable!]
  9. Rodolfo Manuelli & Ananth Seshadri, 2003. "Frictionless Technology Diffusion: The Case of Tractors," NBER Working Papers 9604, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  10. Patrick Francois & Huw Lloyd-Ellis, 2004. "Investment Cycles," Macroeconomics 0405005, EconWPA, revised 05 May 2004. [Downloadable!]
  11. Michael R. Pakko, 2002. "What Happens When the Technology Growth Trend Changes?: Transition Dynamics, Capital Growth and the 'New Economy'," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(2), pages 376-407, April. [Downloadable!] (restricted)
    Other versions:
  12. Francois, P. & Lloyd-Ellis, H., 2003. "Co-movement, capital and contracts: 'normal' cycles through creative destruction," Discussion Paper 62, Tilburg University, Center for Economic Research. [Downloadable!]
  13. John D. Stiver, 2003. "Technology Creation, Diffusion, and Growth Cycles," Working papers 2003-35, University of Connecticut, Department of Economics. [Downloadable!]
  14. John Shea, 1998. "What Do Technology Shocks Do?," NBER Working Papers 6632, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  15. Mauro Napoletano & Domenico Delli Gatti & Giorgio Fagiolo & Mauro Gallegati, 2005. "Weird Ties? Growth, Cycles and Firm Dynamics in an Agent-Based Model with Financial-Market Imperfections," LEM Papers Series 2005/03, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy. [Downloadable!]
Statistics
Access and download statistics

Did you know? Springer Verlag was the first commercial publisher to be listed on RePEc.

This page was last updated on 2008-9-25.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.