This paper examines the relationship between business dynamics and employmenteffects in 320 U.S. Metropolitan Statistical Areas (MSA). Much of the theoretical workon industry dynamics focuses on the role of noisy selection and incomplete informationon entry and survival. We extend this research...

An important new literature on gross employment flows has produced a great outpouring of stylized facts. In this paper we examine one aspect of this literature through the lens of dynamic models and theories of industrial evolution. We extend the Davis and Haltiwanger methodology for analysis of...

Recent theories of economic growth have stressed the role of externalities in generating growth. Using data from the Census Bureau that tracks all employers in the whole U.S. private sector economy, we examine the impact of these externalities, as measured by entrepreneurial activity, on...