years old) have, on average, accounted for all of US employment growth over the past few decades. New businesses are … especially important for youth employment. However, these businesses tend to borrow a lot, and the credit constraints they face …

expansion of employment. The paper contributes to the literature in two ways. First, it attempts to provide a comprehensive …

that the largest 5% account for over half of cohort employment at firm birth and more than two-thirds at firm age 7. Little …

.S. employers to estimate the effects of financial access on employment growth. Our methods combine regressions with matching on … firm age, size, industry, year, and employment history, and with instrumental variables capturing ease of access to SBA … constraints impede small business growth prior to loan receipt. We also investigate the variation in estimated employment effects …