Research

Boyan Jovanovic

Professor of Economics, NYU

cv

Contact

bj2@nyu.edu

Department of Economics

NYU

19 w. 4th St.

New York, NY 10012

(212) 998-8953

(212) 995-4186 fax

Unpublished papers:

"A Model of Polarization" Apr 22

"Idea Diffusion and Property Rights" (w/Zhu Wang) Aug 20

"Middlemen in Limit-Order Markets" (w/Menkveld) Jan 15

Published/forthcoming:

"Trading on Sunspots" (w/ Viktor Tsyrennikov) AER forthc.

"Private Equity and Growth" (w/Sai Ma & Peter Rousseau) J. Econ. Growth 22

"Equilibrium Price Dispersion" (w/ Albert Menkveld) JPE Feb 22

"Uncertainty and Growth Disasters" (w/Sai Ma) RED Apr 22

"Structural Breaks in an Endogenous Growth Model(w/Tim Cogley) RES Mar 22 Appendix

"Obsolescence of Capital and Investment Spikes." (w/ Arthur Fishman) AEJ Micro Nov 21

"Product Recalls and Firm Reputation." AEJ Micro Aug 21 On line Appendix

"Reputation and Earnings Dynamics" (w/Julien Prat) JET Jan 21

"The Entrepreneurship Premium" Small Business Econ. Sept 19

“Extensive and Intensive Investment over the Business Cycle” (w/Rousseau) JPE Aug 14

Dynamic Contracts when Agent's Quality is Unknown” (w/Prat) TE Sep. 14 NBER w16649Dec 10

Misallocation and GrowthAER Apr 2014. Matlabprog. for Fig. 4. Zip file with Figs & prgrms Feb 2012 Version with private info.

On the Market for Venture Capital.” (w/Szentes) JPE Jun 13

“Bubbles in Prices of Exhaustible Resources.” IER Feb 13 NBER w13320 Aug 07

Optimal Migration: A World Perspective.” (w/Benhabib) IER Apr 12

Occupational Choice and Development.” (w/Eeckhout) JET Mar 12

Investment in Vintage Capital.” (w/Yatsenko) JET Mar 12

Entry and Exit Echoes.” (w/Tse) RED Jul 10

Investment Options and the Business Cycle.” JET Nov 09 Longer NBER w13307

The Technology Cycle and Inequality.” R.E.Stud Apr 09

When Should Firms Invest in Old Capital?” Int.JET Mar 09

Specific Capital& Technol. Variety.” (w/Rousseau) J. Human Capital Summer 08

Mergers as Rellocation.” (w/Rousseau) Rev. Econ. Stat Nov 08

"Shakeouts & Market Crashes” (w/Barbarino) IER May 07

General Purpose TechnologiesHndbk of Econ Grwth (Aghion&Durlauf Eds.) 06 Fig 14 data onIPOs Figs 2, 8 & 12 data

Asymmetric CyclesR.E.Stud Jan 06

Interest Rates & the Timing of New Production” (w/Rousseau) Econ. Perspec. 4Q/04

Bidder Discounts and Target Premia in Takeovers” (w/Braguinsky) AER Mar. 04

Spillovers & Inequality." (w/Eeckhout) AER Dec 02

The Q-Theory of Mergers” (w/Rousseau) AEA Proc. May 02

Moore's Law & Learning by Doing.” (w/Rousseau) RED May 02

IT Revolution & the Stock Mkt: Evidence.” (w/Hobijn) AER Dec 01

Why Wait? A Century of Life Before IPO” (w/Rousseau) AEA Proc. May 01 NBER w8081 and DATA

Liquidity Effects in the Bond Market” (w/Rousseau) Econ. Perspec. 1Q/01

Accounting for Growth” (w/Greenwood) NBER CRIW volume 00

Optimal Adoption of Complementary Technologies.” (w/Stolyarov) AER Mar 00

The IT Revolution & the Stock Market” (w/Greenwood) AEA Proc. May 99

Stock-Returns & Inflation in a Principal-Agent Economy.” (w/Ueda) JET Sep 98

Vintage Capital & Inequality.” RED May 98

Inequality & Stability.” (w/Barbosa & Spiegel) Ann. d'Econ. & Stat Oct 97

"Stepping-Stone Mobility." (w/Nyarko) CR Conf Public Policy 97

Contracts & Money.” (w/Ueda) JPE Aug 97

Learning by Doing & the Choice of Technology.” (w/Nyarko) Econometrica Nov. 96

The Transfer of Human Capital.” (w/Nyarko) JEDC Jun. 95

Empirical Learning Curves...” (w/Nyarko) Brookings Pap. (Micro.) 1. 95

Competitive Diffusion.” (w/MacDonald) JPE Feb. 94 WP 1990 with Existence and Uniqueness Proof

Asymmetric Information & Excess Volatility...” (w/Eden) Econ Inq Apr. 94

"Firm Formation with Heterogeneous...Skills." Small Business Econ. 94

The Life Cycle of a Competitive Industry.” (w/MacDonald) JPE Apr. 94

Was the Great Depression a Low-Level Equilibrium?” (w/Dagsvik) EER Dec. 94

Product Innovation & the Business Cycle.” (w/Lach) IER Feb. 97 NBER w4455 Sep. 93

The Diversification of ProductionBrookings Pap. (Micro.) 1, 93

Stock Markets & Development.” (w/Atje) EER Apr. 93

Externalities & Growth Accounting.” (w/Benhabib) AER Mar. 91

Long Waves & Short Waves..” (w/Rob) Econometrica Nov. 90

Financial Development, Growth...” (w/Greenwood) JPE Oct. 90

A Sectoral Model of Labor Mobility.” (w/Moffitt) JPE Aug. 90

Observable Implications of Models with Multiple Equilibria.” Econometrica Nov. 89 WP version Sept 86

The Growth & Diffusion of Knowledge.” (w/Rob) R.E. Stud Oct. 89

Entry, Exit, & Diffusion with Learning by Doing.” (w/Lach) AER Sep. 89

Entrepreneurial Choice & Liquidity Constraints.” (w/Evans) JPE Aug. 89 -- Appendixwith Lik. Func.

Anonymous Sequential Games.” (w/Rosenthal) J. Math Econ 88

The Role of Matching & Relative Demand Shocks ...” (w/Bull) R.E. Stud Jan. 88

Micro Shocks &Aggregate Risk.” QJE May 87 earlier versions: WP 85 and WP 83

Work, Rest, & Search.” J. Lab. Econ Apr. 87

Demand-Driven Innovation.” (w/Rob) R. E. Stud Jan. 87

Efficiency of Search under Competition & Monopsony.” (w/Albrecht) JPE Dec. 86

Assumptions in Matching Models.” (w/Dagsvik & Shepard) J. Lab. Econ. Oct. 85

Matching, Turnover, & Unemployment.” JPE Feb. 84

Favorable Selection with Asymmetric Information.” QJE Aug. 84

Truthful Disclosure of Information.” Bell J. Spr. 82

Inflation & Welfare in the Steady State.” JPE Jun. 82

Selection & Evolution of Industry.” Econometrica May 82

Entry with Private Information.” Bell J. Fall 81

Optimal International Reserves.” (w/Frenkel) Econ. J. Jun. 81

Transactions & Precautionary Demand for Money.” (w/Frenkel) QJE Aug. 80

Labor Mobility & Wages” in Studies in Labor Mkts, (w/Mincer), 80

Firm-Specific Capital & Turnover.” JPE Dec. 79

Job-Matching & the Theory of Turnover.” JPE Oct. 79 (Suppl.)

Godfrey Keller's comment and my rejoinder

Reviews, overviews, discussions, etc.:

Learning & GrowthAdvances in Economics 97

Michael Gort's Contribution to EconomicsRED May 98

“Economic Growth: Theory” Encyclopedia of the Social Sciences

Fitness & AgeJ.Econ. Literature Mar. 01

New Technology & the Small FirmSmall BusinessEcon. Feb. 01

“Stock Mkt & New Economy” (w/Rousseau) Techn.&New Economy MIT Press 02

Two Technological Revolutions” (w/Rousseau) J. Eur. Econ. Assoc. Apr. 03

On Bradford De Long’s ‘Productivity in the 2000’sNBER Macro Annual 02

The Small EntrepreneurEssays in Honor of William Baumol (w/Rousseau) 06