Entrepreneurship research is on the rise but many questions about its fundamental nature still exist. We argue that … entrepreneurship is about experimentation: the probabilities of success are low, extremely skewed and unknowable until an investment is …

We study how a mortgage reform that exogenously increased access to credit had an impact on entrepreneurship, using … point increase in entrepreneurship, equivalent to a 4% increase in the number of entrepreneurs. New entrants were more … benefit from the reform. Our results provide evidence that credit constraints do affect entrepreneurship, but that the overall …

important role that entrepreneurship is believed to play in the process of economic growth, alleviating financing constraints … examining the relevance of financing constraints for entrepreneurship. We then introduce a framework that provides a unified …

We use Census micro data to shed new light on how growth in house prices boosts US entrepreneurship. At the height of …-level relationship between house price increases and entrepreneurship operates through expansion of the home equity collateral channel … entrepreneurship observed in city-level analyses comes from higher local demand that boosts entry. Our results provide a nuanced …

. Such frictions can help explain part of the gender gap in entrepreneurship, and also have implications for how to design …