Pugsley, Benjamin Wild; Sahin, Aysegul - Federal Reserve Bank of New York - 2014
We document two striking facts about U.S. firm dynamics and interpret their significance for aggregate employment … dynamics. The first observation is the steady decline in the firm entry rate over the last thirty years, and the second is the … geographies. We show that, despite these trends, firms’ life-cycle dynamics and business-cycle properties have remained virtually …