. Using a state-level panel, we estimate the effects of several policy variables on rates of entrepreneurship and find that … bankruptcy exemptions, corporate tax rates, and the level of the minimum wage all affect a state's rate of entrepreneurship. For … the median state, these policies reduced the level of entrepreneurship by 10.5 percent. Much of the geographic pattern of …

We develop a theory of blockchain governance. In our model, the proof-of-work system, which is the most common set of … services. We analyze the two-way interactions between blockchain governance and the market structure of the industries in the … blockchain ecosystem. Our main result is that the proof-of-work system leads to a situation where the governance of the …