This paper estimates an unobserved components model to explore the macro dynamics ofentrepreneurship in Spain and the US. We ask whether entrepreneurship exhibits hysteresis,defined as a macro dynamic structure in which cyclical fluctuations have persistent effects onthe natural rate of...

I explore the factors that determine whether new business opportunities are exploited bystarting a new venture for an employer (‘nascent intrapreneurship’) or independently(‘nascent entrepreneurship’). Analysis of a nationally representative sample of Americanadults gathered in 2005-06...