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We document two striking facts about U.S. firm dynamics and interpret their significance for aggregate employment dynamics. The first observation is the steady decline in the firm entry rate over the last thirty years, and the second is the gradual shift of employment from younger to older firms...
Persistent link: https://www.econbiz.de/10010459706
We analyze whether start-up rates in different industries systematically change with business cycle variables. Using a unique data set at the industry level, we mostly find correlations that are consistent with counter-cyclical influences of the business cycle on entries in both innovative and...
Persistent link: https://www.econbiz.de/10011853760
We analyze whether start-up rates in different industries systematically change with business cycle variables. Using a unique data set at the industry level, we mostly find correlations that are consistent with counter-cyclical influences of the business cycle on entries in both innovative and...
Persistent link: https://www.econbiz.de/10011822200
Entrepreneurship has a cyclical component, raising two questions. Is the entrepreneurship cycle related to the business … cycle? And is there causality? A twoway relationship between entrepreneurship and the business cycle would be in line with … the two faces of entrepreneurs: as agents of change creating upswings (opportunity entrepreneurship) and as rational …
Persistent link: https://www.econbiz.de/10011421978
contradicts existing theoretical hypotheses which predict that entrepreneurship is pro-cyclical or not cyclical. We discuss …
Persistent link: https://www.econbiz.de/10011378123
We analyze whether start-up rates in different industries systematically change with business cycle variables. We mostly find correlations that are consistent with coun- ter-cyclical influences of the business cycle on entries in both innovative and non-in- novative industries. Entries into the...
Persistent link: https://www.econbiz.de/10011738571
This paper assesses the prospects of a 2021 time bomb in small and medium-sized enterprises (SME) failures triggered by the generous support policies enacted during the 2020 COVID-19 crisis. Policies implemented in 2020, on their own, do not create a 2021 time bomb for SMEs. Rather, business...
Persistent link: https://www.econbiz.de/10012425090
1972 to 2007; entrepreneurship Granger-causes the cycles of the world economy. Furthermore, the entrepreneurial cycle is …
Persistent link: https://www.econbiz.de/10011009912
. This contradicts existing theoretical hypotheses which predict that entrepreneurship is pro-cyclical or not cyclical. We …
Persistent link: https://www.econbiz.de/10011255833
Do economic recessions and high unemployment lead to more business start-ups or are people more likely to become self-employed in periods of economic prosperity? Our analysis for Germany reveals that the cyclical component of real GDP has a negative effect on start-up activities. Moreover, the...
Persistent link: https://www.econbiz.de/10011128472