Small businesses are the backbone of the U.S. economy and account for approximately one-half of the private-sector economy and 99% of all businesses. To start a small business, individuals need access to capital. Given the importance of an entrepreneur's personal debt capacity in financing a...

This study examines the impact of growth in student debt on net small business formation. We find a significant and economically meaningful negative correlation between changes in student debt and net new businesses employing one to four employees, the firms most dependent on personal debt for...

Der vorliegende AMS report 57 beinhaltet Beiträge anläßlich der von der Abteilung Arbeitsmarktforschung und Berufsinformation des AMS Österreich veranstalteten Fachtagung "Perspektiven der Beschäftigung von HochschulabsolventInnen: Schlußfolgerungen für die Studien- und Berufsberatung"....

We examine the generalizability of internally valid estimates of causal effects in a fixed population over time when that population is subject to aggregate shocks. This temporal external validity is shown to depend upon the distribution of the aggregate shocks and the interaction between these...