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 consis...
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| Veröffentlicht in: | The American economic review 2016-05, Vol.106 (5), p.214-218 |
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| container_title | The American economic review |
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| creator | Gourio, François Messer, Todd Siemer, Michael |
| description | 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. |
| doi_str_mv | 10.1257/aer.p20161052 |
| format | Article |
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| fulltext | fulltext |
| identifier | ISSN: 0002-8282 |
| ispartof | The American economic review, 2016-05, Vol.106 (5), p.214-218 |
| issn | 0002-8282 1944-7981 |
| language | eng |
| recordid | cdi_proquest_journals_1788239036 |
| source | Business Source Complete; Jstor Complete Legacy; American Economic Association Web |
| subjects | Age Analysis Central banks Demographics Economic conditions Economic statistics GDP Great Recession Gross Domestic Product Macroeconomics NEW DEVELOPMENTS IN FIRM DYNAMICS IN UNDERSTANDING BUSINESS DYNAMISM Productivity Standard deviation Startups Studies Variables |
| title | Firm Entry and Macroeconomic Dynamics: A State-Level Analysis |
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