Abstract
Seven conference papers, with discussions, examine the reasons for the current merger and acquisition wave, the implications for economic performance, and the appropriate public policy responses. Specific topics are an industrial organization perspective of the merger wave; financial innovation and corporate mergers; a corporate valuation model; a financial perspective on mergers, acquisitions, and the economy; effects of mergers and acquisitions on the economy from an industrial organization perspective; an antitrust perspective of merger policy; and the nature of the controversy on hostile takeovers. Contributors are David J. Ravenscraft, Gregg A. Jarrell, Dean LeBaron, Lawrence S. Speidell, Michael C. Jensen, Richard E. Caves, William James Adams, and the editors. Browne and Rosengren are with the Federal Reserve Bank of Boston. No index.