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Article: Entry and exit echoes

TitleEntry and exit echoes
Authors
KeywordsVintage Capital
Issue Date2010
PublisherAcademic Press. The Journal's web site is located at http://www.elsevier.com/locate/red
Citation
Review Of Economic Dynamics, 2010, v. 13 n. 3, p. 514-536 How to Cite?
AbstractWhile aggregate data do not show the investment echoes predicted by vintage-capital models, echoes arise in rates of entry and exit of firms at the industry level. Moreover, industries where prices decline rapidly experience early 'shakeouts'. The relation emerges naturally in a vintage-capital model in which exit of firms sometimes accompanies the replacement of their capital, and in which a shakeout is the first replacement 'echo' of the capital created when the industry is born. © 2009 Elsevier Inc.
Persistent Identifierhttp://hdl.handle.net/10722/177777
ISSN
2015 Impact Factor: 1.256
2015 SCImago Journal Rankings: 2.554
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorJovanovic, Ben_US
dc.contributor.authorTse, CYen_US
dc.date.accessioned2012-12-19T09:39:52Z-
dc.date.available2012-12-19T09:39:52Z-
dc.date.issued2010en_US
dc.identifier.citationReview Of Economic Dynamics, 2010, v. 13 n. 3, p. 514-536en_US
dc.identifier.issn1094-2025en_US
dc.identifier.urihttp://hdl.handle.net/10722/177777-
dc.description.abstractWhile aggregate data do not show the investment echoes predicted by vintage-capital models, echoes arise in rates of entry and exit of firms at the industry level. Moreover, industries where prices decline rapidly experience early 'shakeouts'. The relation emerges naturally in a vintage-capital model in which exit of firms sometimes accompanies the replacement of their capital, and in which a shakeout is the first replacement 'echo' of the capital created when the industry is born. © 2009 Elsevier Inc.en_US
dc.languageengen_US
dc.publisherAcademic Press. The Journal's web site is located at http://www.elsevier.com/locate/reden_US
dc.relation.ispartofReview of Economic Dynamicsen_US
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.subjectVintage Capitalen_US
dc.titleEntry and exit echoesen_US
dc.typeArticleen_US
dc.identifier.emailTse, CY: cytse@hkucc.hku.hken_US
dc.identifier.authorityTse, CY=rp01099en_US
dc.description.naturepostprinten_US
dc.identifier.doi10.1016/j.red.2009.07.004en_US
dc.identifier.scopuseid_2-s2.0-77953727401en_US
dc.identifier.hkuros178311-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-77953727401&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume13en_US
dc.identifier.issue3en_US
dc.identifier.spage514en_US
dc.identifier.epage536en_US
dc.identifier.isiWOS:000279234500002-
dc.publisher.placeUnited Statesen_US
dc.identifier.scopusauthoridJovanovic, B=7005701459en_US
dc.identifier.scopusauthoridTse, CY=7103295092en_US
dc.identifier.citeulike5431406-

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