Fritsch, Michael; Kritikos, Alexander S.; Pijnenburg, … - Institute for the Study of Labor (IZA) - 2013
what extent business cycles or unemployment levels influence entries into entrepreneurship. Our analysis for Germany … reveals that there is a positive relationship between unemployment rates and start-up activities. Moreover, new business … formation is higher during recessions than in boom periods. This implies that new business formation is counter-cyclical. When …