Information technology revolution stock market

Author: usertm Date: 10.06.2017
information technology revolution stock market

Why did the stock market decline so much in the early 's and remain low until the early 's? We argue that it was because information technology arrived on the scene and the stock-market incumbents of the day were not ready to implement it.

Instead, new firms would bring in the new technology after the mid's. Investors foresaw this in the early 's and stock prices fell right away.

In our model, new capital destroys old capital, but with a lag.

The prospect of this causes the value of the old capital to fall right away. JEL G12, O16, O The information-technology revolution and the stock market: N2 - Why did the stock market decline so much in the early 's and remain low until the early 's? AB - Why did the stock market decline so much in the early 's and remain low until the early 's?

The Information-Technology Revolution and the Stock Market: Evidence

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Evidence Bart Hobijn, Boyan Jovanovic. Abstract Why did the stock market decline so much in the early 's and remain low until the early 's? Original language English US Pages from-to Number of pages 18 Journal American Economic Review Volume 91 Issue number 5 State Published - Dec ASJC Scopus subject areas Economics and Econometrics.

The Information Technology Revolution and the Stock Market: Evidence

Cite this Apa Standard Harvard Vancouver Author BIBTEX RIS Hobijn, B. American Economic Review , 91 5 , American Economic Review , Vol.

Evidence ' American Economic Review , vol 91, no. Hobijn B, Jovanovic B.

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