This paper examines how labor frictions affect investment rate and new firm entry. Using matched employee-employer data from LinkedIn, I first show that increases in the enforceability of non-compete agreements lead to widespread declines in employee departures across seniority levels, driven by...

This paper provides causal evidence on impact of immigrant labor mobility frictions on business dynamism. An unexpected information-technology change to the Green Card process reduced inter-firm mobility for Indian and Chinese immigrants in October 2005. The shock impacted startups...