This paper estimates an unobserved components model to explore the macro dynamics of entrepreneurship in Spain and the US. We ask whether entrepreneurship exhibits hysteresis, defined as a macro dynamic structure in which cyclical fluctuations have persistent effects on the natural rate of...

This paper estimates an unobserved components model to explore the macro dynamics of entrepreneurship in Spain and the US. We ask whether entrepreneurship exhibits hysteresis, defined as a macro dynamic structure in which cyclical fluctuations have persistent effects on the natural rate of...

This paper estimates an unobserved components model to explore the macro dynamics of entrepreneurship in Spain and the US. We ask whether entrepreneurship exhibits hysteresis, defined as a macro dynamic structure in which cyclical fluctuations have persistent effects on the natural rate of...

We explore the macro structure of entrepreneurship rates in a panel of 23 OECD countries over 1972-2006. We find that rates of entrepreneurship in OECD’s countries exhibit persistence rather than hysteresis. Implications for the design of entrepreneurship policies are discussed

The dynamics of startup activity are crucial for job creation, innovation, and a competitive economy. Does regional firm formation exhibit hysteresis, such that shocks, including those induced by temporary policy interventions, have permanent effects? Due to the pronounced heterogeneity among...

This article estimates two unobserved components models to explore the macrodynamics of entrepreneurship in Spain and the USA. We ask whether entrepreneurship exhibits hysteresis, defined as a macrodynamic structure in which the cyclical component of entrepreneurship has persistent effects on...

This article re-examines the persistence in natural gas consumption using an alternative methodology. In particular we report estimates of an unobserved components model, in which hysteresis exists if cyclical and natural gas consumptions do not evolve independently. In addition, this framework...

This paper estimates an unobserved components model to explore coal consumption in the USA. We ask whether coal consumption exhibits hysteresis, defined as a dynamic structure in which the cyclical component of coal consumption has permanent effects on the natural component. In contrast to...