This paper documents the cyclical patterns of business entry and exit dynamism in the US using the Business Dynamic Statistics (BDS) dataset. The main finding is that, for both firms and establishments, the entry margin is significantly procyclical while the exit margin shows little cyclicality....

This paper documents, at business cycle frequencies, the sequential pattern of firm births and deaths and the aggregate economic condition in the US. On the aggregate level, firm formation leads economic conditions and positively affects subsequent firm deaths, suggesting that startups have a...