Who Creates New Firms When Local Opportunities Arise?
Author: Bernstein, Shai, Colonnelli, Emanuele, Malacrino, Davide, McQuade, Timothy on Feb 02, 2019
A growing theoretical and empirical literature shows that new business formation is key to understanding how economies respond to economic shocks. For example, new firms generate the majority of jobs created in response to fluctuations in local demand or following oil and gas discoveries.
The magnitude of the firm entry…
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