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We incorporate a general model of frictions into the bunching-based elasticity estimator. This model relies on fewer parameters than the conventional approach, replacing bunching window bounds with a single "lumpiness parameter," while matching rich observed bunching patterns such as...
Persistent link: https://www.econbiz.de/10014576626
"cutthroat capitalism" that generates greater inequality and more innovation and will become the technology leaders, while others …
Persistent link: https://www.econbiz.de/10012460215
This is an introduction to the forthcoming volume "The Role of Innovation and Entrepreneurship in Economic Growth." The … chapters collected in this volume seek to answer the following questions: What is the relationship between innovation/entrepreneurship … and economic growth in specific industrial sectors? How has the relationship between innovation /entrepreneurship and …
Persistent link: https://www.econbiz.de/10012482324
The distribution of human capital and income lies at the center of a nexus of forces that shape a country's economic, institutional and technological structure. I develop here a unified model to analyze these interactions and their growth consequences. Five main issues are addressed. First, I...
Persistent link: https://www.econbiz.de/10012468322
The econometric consensus on the effects of social spending confirms a puzzle we confront in the raw data: There is no clear net GDP cost of high tax-based social spending on GDP, despite a tradition of assuming that such costs are large. The paper offers five keys to this free lunch puzzle....
Persistent link: https://www.econbiz.de/10012468828
Small and young businesses are essential for job creation, innovation, and economic growth. Even most of the superstar …
Persistent link: https://www.econbiz.de/10014322738
Immigrants contribute disproportionately to entrepreneurship in many countries, accounting for a quarter of new … employer businesses in the US. We review recent research on the measurement of immigrant entrepreneurship, the traits of … are immigrants. We utilize the Annual Business Survey to quantify the greater rates of patenting and innovation in …
Persistent link: https://www.econbiz.de/10014544679
, we find that 6% of Republicans and 4% of Democrats become entrepreneurs. This partisan entrepreneurship gap is time …-varying: Republicans increase their relative entrepreneurship during Republican administrations and decrease it during Democratic … entrepreneurship around the elections of President Obama and President Trump, and the strongest effects among the most politically …
Persistent link: https://www.econbiz.de/10013334466
This research examines the determinants of entrepreneurship in the initial transition from agriculture to industrial …
Persistent link: https://www.econbiz.de/10014322864
We explore how financial constraints distort the entry decisions among otherwise productive entrepreneurs and limit growth of promising young firms. A model of liquidity-constrained entrepreneurs suggests that the easing of credit constraints can induce more entry of firms with greater long-run...
Persistent link: https://www.econbiz.de/10014372477