Pekkala Kerr, Sari; Kerr, William R.; Nanda, Ramana - 2015
During 1992-2007, house price growth is strongly correlated with local entrepreneurship. We show with Census Bureau … data that most of this entry is related to construction and real estate; these entrants tend to be small and short …-lived. Using a 1998 Texas reform that allowed home equity lending for the rst time in the state, we isolate that entrepreneurship …