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entry strongly applies to unincorporated entrepreneurship, but only weakly to incorporated entrepreneurship. This highlights … the association of unincorporated and incorporated entrepreneurship with necessity and opportunity entrepreneurship …
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We document two striking facts about U.S. firm dynamics and interpret their significance for aggregate employment dynamics. The first observation is the steady decline in the firm entry rate over the last thirty years, and the second is the gradual shift of employment from younger to older firms...
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