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We develop the case of two-stage least squares estimation (2SLS) in the general framework of Athey et al. (Generalized Random Forests, Annals of Statistics, Vol. 47, 2019) and provide a software implementation for R and C++. We use the method to revisit the classic application of instrumental...
Persistent link: https://www.econbiz.de/10012269068
We develop the case of two-stage least squares estimation (2SLS) in the general framework of Athey et al. (Generalized Random Forests, Annals of Statistics, Vol. 47, 2019) and provide a software implementation for R and C++. We use the method to revisit the classic application of instrumental...
Persistent link: https://www.econbiz.de/10012424219
Entrepreneurship, as reflected in the start-up of new firms, the growth and market exit of existing firms, and the ow … that there is a strong possibility that the unintended damage to entrepreneurship, innovation and growth could be …
Persistent link: https://www.econbiz.de/10012243470
We review Baumol's typology of productive, unproductive and destructive entrepreneurship. We argue that the typology is … the thesis that entrepreneurship has become less productive, due to the unintended effects of entrepreneurship policies … adopted widely in Western economies. These have straight-jacketed, distracted and zombified entrepreneurship. Removing these …
Persistent link: https://www.econbiz.de/10014335837
Entrepreneurship scholarship and policy are based on the myth of firm growth as imperative and the related myth of …. Green growth and sustainable entrepreneurship are exposed as oxymorons. Given the dangers and the impossibility of perpetual … growth, the paper then tries to answer the question of what role entrepreneurship could play in a post-growth society or in …
Persistent link: https://www.econbiz.de/10014584338
This paper introduces a new concept in addition to the traditional measures of stocks of capital, labor, human capital and knowledge, to understand the Solow Residual: National Entrepreneurial Ecosystem (NEE). The NEE construct is based on a methodology that combines institutions and human...
Persistent link: https://www.econbiz.de/10010438892
The European Commission has adopted an Entrepreneurship 2020 Action Plan as its answer to challenges brought by the … entrepreneurship will contribute towards ending the continent's economic malaise. In this article I argue that these expectations may … be disappointed because (i) entrepreneurship promotion is a last-resort policy, (ii) entrepreneurs are being …
Persistent link: https://www.econbiz.de/10011455343
Policy makers find it difficult to promote economic development through entrepreneurship and SMEs. In this paper we … argue that this is because the positive impact of entrepreneurship is overestimated and its negative impact underestimated …. It is moreover also because there is no unified scientific approach towards the role of entrepreneurship in economic …
Persistent link: https://www.econbiz.de/10011743542
Entrepreneurship in most advanced economies is in decline. This comes as a surprise: many scholars have expected an … upsurge in entrepreneurship. What are the reasons for the decline? In this paper I first document the extent of the decline in …-side view and moreover fail to explain why the decline in entrepreneurship is largely confined to economies with high levels of …
Persistent link: https://www.econbiz.de/10012110368
The neo-Schumpeterian growth models, which appeared in the early 1990s, have ostensibly reintroduced the entrepreneur into mainstream growth theory. However, we show that by ignoring genuine uncertainty and by assuming that profits follow an objectively true and ex ante known probability...
Persistent link: https://www.econbiz.de/10015163031