disequilibrium but little empirical research has examined firm entry and exit in this context. We redress this by modelling the … interrelationship between firm entry and exit in disequilibrium. Introducing a new methodology we investigate whether this …

This paper conducts the first general equilibrium analysis of the role of entry, exit and profits in industry dynamics …, to discriminate between three aspects of industry dynamics: the effect of entry and exit on market equilibrium, duration … simultaneous equilibrium model of profits, entry and exit. We find that indeed entrants play an entrepreneurial function causing …

time effects. All countries display a massive reallocation of resources, with the entry and exit of many firms in all … market contestability. There are also large differences across groups of countries. While entry and exit rates are fairly …

entrepreneurs and the entry and exit rate of entrepreneurs simultaneously and consistently. We apply our unified approach to the … by both high entry and high exit rates. …