Business Cycles and Start-ups across Industries: an Empirical Analysis for Germany
Alexander Konon (),
Michael Fritsch () and
Alexander Kritikos ()
Additional contact information
Alexander Konon: German Institute for Economic Research (DIW Berlin)
No 2017-013, Jena Economic Research Papers from Friedrich-Schiller-University Jena
We analyze whether start-up rates in different industries systematically change with business cycle variables. We mostly find correlations that are consistent with counter-cyclical influences of the business cycle on entries in both innovative and non-innovative industries. Entries into the large-scale industries, including the innovative part of the manufacturing sector, are more strongly influenced by changes in the cyclical component of unemployment, while entries into small-scale industries, like the knowledge intensive services, are merely influenced by changes in the cyclical component of GDP. Business formation may therefore have a stabilizing effect on the economy.
Keywords: New business formation; Entrepreneurship; business cycle; manu- facturing; services; innovative industries (search for similar items in EconPapers)
JEL-codes: L26 E32 L16 R11 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ent, nep-eur, nep-geo, nep-ino, nep-mac, nep-sbm and nep-tid
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:jrp:jrpwrp:2017-013
Access Statistics for this paper
More papers in Jena Economic Research Papers from Friedrich-Schiller-University Jena
Bibliographic data for series maintained by Markus Pasche ().