Research
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Boyan Jovanovic
Professor of Economics, NYU
Contact
Department of Economics
NYU
19 w. 4th St.
New York, NY 10012
(212) 998-8953
(212) 995-4186 fax
Unpublished papers:
"Learning from Mistakes" (w/ Sai Ma) Apr 24
"Organization Capital when Workers are Tested Optimally" Mar 24
"Product Variety in Young Firms" (w/Peter Rousseau) June 24
"A Borrower-Lender Game with Communication" (w/Xi Xiong) June 24
"Patent Signaling'' (w/Deepak Hegde & Jin Liu) Oct 23
"A Model of Polarization" Apr 22
"Idea Diffusion and Property Rights" (w/Zhu Wang) Nov 23
"Middlemen in Limit-Order Markets" (w/Menkveld) Jan 15
Published/forthcoming:
"Growth through Learning" (w/Sai Ma) RED Oct 23 Online appendix
"Trading on Sunspots" (w/ Viktor Tsyrennikov) AER Dec 22 Online appendix
"Private Equity and Growth" (w/Sai Ma & Peter Rousseau) J. Econ. Growth Sep 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 Growth” AER 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 Technologies” Hndbk of Econ Grwth (Aghion&Durlauf Eds.) 06 Fig 14 data onIPOs Figs 2, 8 & 12 data
“Asymmetric Cycles” R.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 Production” Brookings 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 & Growth” Advances in Economics 97
“Michael Gort's Contribution to Economics” RED May 98
“Economic Growth: Theory” Encyclopedia of the Social Sciences
“Fitness & Age” J.Econ. Literature Mar. 01
“New Technology & the Small Firm” Small 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’s” NBER Macro Annual 02
“The Small Entrepreneur” Essays in Honor of William Baumol (w/Rousseau) 06