NDLI: Patterns of comovement the role of information technology in the U.S. economy

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Patterns of comovement the role of information technology in the U.S. economy

Content Provider	Library of Congress - Books/Printed Material
Author	Chun, Hyunbae
Spatial Coverage	United States
Temporal Coverage	2004
Copyright Year	2004
Abstract	"Firm-specific variation in stock returns and fundamental performance measures is significantly higher in industries that have a history of more investment in information technology (IT). We hypothesise that IT is associated with creative destruction or product differentiation, either of which can widen the performance difference between winner and loser firms. Thus, economy-level volatility can fall while firm-level volatility rises because firm-specific volatility cancels out in the aggregate. Our results are consistent with rising firm-specific variation in US stocks reflecting a rising pace of creative destruction; and with greater firm-specific variation in richer and faster growing countries reflecting more intensive creative destruction in those economies, though other explanations are probably valid as well"--National Bureau of Economic Research web site.
Language	English
Publisher	National Bureau of Economic Research
Publisher Place	Cambridge, MA
Part of Series	Catalog
Requires	HTML5 supported browser
Access Restriction	Open
Subject Keyword	Economic Aspects Information Technology United States
Subject Domain (in LCSH)	Information technology--Economic aspects--United States
Subject Domain (in LCC)	HB1
Content Type	Text
Resource Type	Book

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