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Economic Turbulence: What, Who, and How Much?

Economic Turbulence: What, Who, and How Much?

Chapter:
(p.10) Chapter Two Economic Turbulence: What, Who, and How Much?
Source:
Economic Turbulence
Author(s):
Clair Brown
Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226076348.003.0002

This chapter provides an overview of the amount of economic turbulence in the economy. A set of newly available facts about turbulence is also presented. The deregulation of the trucking industry provides a good example of how mergers and acquisitions can change the economic landscape. The impact of mergers and acquisitions is clear in the financial services industry. The retail food industry provides a classic example of the impact of competitive forces on both births and deaths within an industry. Firm deaths are not only an important contributor to job losses, but the rates of firm births and deaths are very different across industries, firm sizes, and parts of the business cycle. It is shown that factors such as deregulation, industry restructuring, and globalization are significant driving forces in contributing to firm entry and exit.

Keywords:   economic turbulence, economy, trucking industry, financial services industry, retail food industry, firm deaths, industry restructuring, globalization

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