Firm entry and macroeconomic dynamics: A state-level analysis

Using an annual panel of US states over the period 1982-2014, we estimate the response of macroeconomic variables to a shock to the number of new firms (startups). We find that these shocks have significant effects that persist for many years on real GDP, productivity, and population. This is consistent with simple models of firm dynamics where a "missing generation" of firms affects productivity persistently.

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Year of publication:	2016
Authors:	Gourio, François ; Messer, Todd ; Siemer, Michael
Publisher:	Chicago, IL : Federal Reserve Bank of Chicago

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Series:	Working Paper ; 2016-01
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	848081161 [GVK] hdl:10419/130659 [Handle] RePEc:fip:fedhwp:wp-2016-01 [RePEc]
Source:	EconStor

Persistent link: https://www.econbiz.de/10011460656