We present evidence on the contributions of business establishment dynamics - including births and deaths, expansions and contractions, and in- and out-migration - to employment growth (and decline). We use data from the National Establishment Time Series for California to estimate the...

Spurred by the remarkable growth of Silicon Valley prior to the Internet bubble, state policymakers throughout the country decided to boost the availability of venture capital to local start-up companies. This paper argues that there is still a great deal to learn from empirical data about the...