Analyzes the entrepreneur's contribution to job growth. Employment growth in the United States is compared to that of other developed nations in order to demonstrate that U.S. job growth is an economy-wide phenomenon rather than a phenomenon limited to a particular industry. Next, job generation...

We propose a measure for the importance of aggregate shocks for fluctuations in job flows at the firm level. Using data for the Portuguese economy, we find that large and old firms exhibit higher relative sensitivity to aggregate shocks and have a disproportional influence over the dynamics of...

This paper shows that labor market institutions are important for the formation of new enterprises. The effects of labor market institutions on entrepreneurship, wage determination, and firm size are analysed analytically and illustrated numerically. The main result is that an increase in union...