Barseghyan, Levon; DiCecio, Riccardo - Federal Reserve Bank of St. Louis - 2008
de�ning feature
of the Industrial Revolution. A similar increase is recorded in the case of
Japan�s growth miracle …. Between 1957 and 1969, the employment share of
Japan�s smallest establishments declined from 41 to 31:5 percent.
A calibrated … decrease in entry costs. We argue that the decline
in the share of small �rms is consistent with Japan�s post-World War II …