We study changes in job reallocation in Europe after 2000 using novel micro- aggregated data that we collected for 19 European countries. In all countries, we document broad-based declines in job reallocation rates that concern most econo- mic sectors and size classes. These declines are mainly...

In contrast to shareholders of limited-liability firms, the owners of sole proprietorships and partnerships are fully liable for their firm’s liabilities. We expect owners’ full liability to mitigate agency problems of debt and to lower creditors’ demand for financial debt covenants and...

We study changes in job reallocation in Europe after 2000 using novel microaggregated data that we collected for 19 European countries. In all countries, we document broad-based declines in job reallocation rates that concern most economic sectors and size classes. These declines are mainly...