What is the Economic Impact of the Slowdown in New Business Formation?

Francois Gourio, Todd Messer and Michael Siemer

Chicago Fed Letter, 2014, issue Sep, No 326

Abstract: Economists have emphasized the importance of ?creative destruction? as an engine of growth. The creative destruction process involves a constant reorganization of the economy as old products, firms, factories, and jobs are replaced by new ones. An important part of this process lies in the opening of new firms or establishments.

Keywords: economic; job; gross domestic product (GDP) (search for similar items in EconPapers)
Date: 2014
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