Firm Entry and Macroeconomic Dynamics: A State-Level Analysis

Francois Gourio, Todd Messer and Michael Siemer

American Economic Review, 2016, vol. 106, issue 5, 214-18

Abstract: 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.

JEL-codes: D22 E23 E32 L11 L26 M13 (search for similar items in EconPapers)
Date: 2016
Note: DOI: 10.1257/aer.p20161052
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Citations: View citations in EconPapers (53)

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Related works:
Working Paper: Firm Entry and Macroeconomic Dynamics: A State-level Analysis (2016)
Working Paper: Firm Entry and Macroeconomic Dynamics: A State-level Analysis (2016)
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