This paper sets out to evaluate the role that entrepreneurs and small businesses play in economic development.  How important are entrepreneurs and small businesses in creating jobs, and are these the types of jobs that should be encouraged?  How important are entrepreneurs and small...

Although firms have invested billions of dollars in information technology to boost their productivity, many analysts continue to question whether these investments do in fact lead to productivity gains. An industry-level analysis of productivity performance provides robust evidence of a link,...

The author examines the impact of incomplete risk-sharing on growth and welfare. The source of market incompleteness in the economy is private information: a household's idiosyncratic productivity shock is not observable by others. Risk-sharing between households occurs through long-term...