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We present evidence that weak household demand contributed to a reduction in firm and establishment entry in the Great … Recession. Motivated by this evidence, we characterize aggregate growth dynamics in response to demand shocks in a broad class … of endogenous growth models. We show that the aggregate impacts of demand shocks are determined completely through their …
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For many growth-oriented entrepreneurial firms, the entrepreneur's time is one of the more salient resource constraint. Classifying the entrepreneurs' activities into four categories based on their revenue-related or process-related impact and short-term or long-term effects, we present a...
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