Mergers as Reallocation
AbstractWe argue that takeovers have played a major role in speeding up the diffusion of new technology. The role that they play is similar to that of entry and exit of firms. We focus on and compare two periods: 1890-1930 during which electricity and the internal combustion engine spread through the U.S. economy, and 1971-2001 . the Information Age.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 9279.
Date of creation: Oct 2002
Date of revision:
Note: DAE EFG PR
Contact details of provider:
Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
Web page: http://www.nber.org
More information through EDIRC
Other versions of this item:
- O3 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights
- L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
This paper has been announced in the following NEP Reports:
- NEP-ALL-2002-10-23 (All new papers)
- NEP-COM-2002-10-23 (Industrial Competition)
- NEP-DGE-2002-10-23 (Dynamic General Equilibrium)
- NEP-ENT-2002-10-08 (Entrepreneurship)
- NEP-MIC-2002-10-28 (Microeconomics)
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.:
- Andy Atkeson & Pat Kehoe, 2002.
"The transition to a new economy after the Second Industrial Revolution,"
Federal Reserve Bank of San Francisco, issue Nov.
- Andrew Atkeson & Patrick J. Kehoe, 2001. "The transition to a new economy after the Second Industrial Revolution," Working Papers 606, Federal Reserve Bank of Minneapolis.
- Andrew Atkeson & Patrick J. Kehoe, 2001. "The Transition to a New Economy After the Second Industrial Revolution," NBER Working Papers 8676, National Bureau of Economic Research, Inc.
- Boyan Jovanovic & Peter L. Rousseau, 2002.
"The Q-Theory of Mergers,"
NBER Working Papers
8740, National Bureau of Economic Research, Inc.
- Michele Boldrin & David K. Levine, 1999.
"Growth Cycles and Market Crashes,"
Levine's Working Paper Archive
2028, David K. Levine.
- David, P.A., 1989. "Computer And Dynamo: The Modern Productivity Paradox In A Not-Too Distant Mirror," The Warwick Economics Research Paper Series (TWERPS) 339, University of Warwick, Department of Economics.
- Prescott, Edward C & Boyd, John H, 1987. "Dynamic Coalitions: Engines of Growth," American Economic Review, American Economic Association, vol. 77(2), pages 63-67, May.
- Andreas Hornstein & Per Krusell, 1996. "Can Technology Improvements Cause Productivity Slowdowns?," NBER Chapters, in: NBER Macroeconomics Annual 1996, Volume 11, pages 209-276 National Bureau of Economic Research, Inc.
- Ricardo J. Caballero & Mohamad L. Hammour, 1991.
"The Cleansing Effect of Recessions,"
NBER Working Papers
3922, National Bureau of Economic Research, Inc.
- Boyan Jovanovic & Serguey Braguinsky, 2002.
"Bidder Discounts and Target Premia in Takeovers,"
NBER Working Papers
9009, National Bureau of Economic Research, Inc.
- Ann P. Bartel & Nachum Sicherman, 1999.
"Technological Change and the Skill Acquisition of Young Workers,"
NBER Working Papers
5107, National Bureau of Economic Research, Inc.
- Bartel, Ann P & Sicherman, Nachum, 1998. "Technological Change and the Skill Acquisition of Young Workers," Journal of Labor Economics, University of Chicago Press, vol. 16(4), pages 718-55, October.
- G. William Schwert, 2000.
"Hostility in Takeovers: In the Eyes of the Beholder?,"
Journal of Finance,
American Finance Association, vol. 55(6), pages 2599-2640, December.
- G. William Schwert, 1999. "Hostility in Takeovers: In the Eyes of the Beholder?," NBER Working Papers 7085, National Bureau of Economic Research, Inc.
- Simon Kuznets & Elizabeth Jenks, 1961. "Capital in the American Economy: Its Formation and Financing," NBER Books, National Bureau of Economic Research, Inc, number kuzn61-1.
- Greenwood, J. & Jovanovic, B., 1999.
"The IT Revolution and the Stock Market,"
RCER Working Papers
460, University of Rochester - Center for Economic Research (RCER).
- Greenwood, J. & Jovanovic, B., 1999. "The IT Revolution and the Stock Market," Working Papers 99-02, C.V. Starr Center for Applied Economics, New York University.
- Jeremy Greenwood & Boyan Jovanovic, 1999. "The IT Revolution and the Stock Market," NBER Working Papers 6931, National Bureau of Economic Research, Inc.
- Robert H. McGuckin & Sang V. Nguyen, 1995. "On Productivity and Plant Ownership Change: New Evidence from the Longitudinal Research Database," RAND Journal of Economics, The RAND Corporation, vol. 26(2), pages 257-276, Summer.
- Boyan Jovanovic & Peter L. Rousseau, 2000.
"Vintage organization capital,"
Federal Reserve Bank of San Francisco, issue Apr.
- Valerie A. Ramey & Matthew D. Shapiro, 2001. "Displaced Capital: A Study of Aerospace Plant Closings," Journal of Political Economy, University of Chicago Press, vol. 109(5), pages 958-992, October.
- Frank R. Lichtenberg & Donald Siegel, 1987. "Productivity and Changes in Ownership of Manufactoring Plants," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 18(3), pages 643-684.
This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page. reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.