This paper examines the relationship between business dynamics and employmenteffects in 320 U.S. Metropolitan Statistical Areas (MSA). Much of the theoretical workon industry dynamics focuses on the role of noisy selection and incomplete informationon entry and survival. We extend this research...

The UK’s poor productivity performance relative to the US has been a focus for government policy and analysis in recent Budgets and Pre-Budget Reports. Figure 1, where the UK business sector is scaled to 100, shows that US business sector labour productivity (value-added per worker) was just...