"Contents" -- "Prefatory Note" -- "Introduction / John Haltiwanger, Erik Hurst, Javier Miranda, and Antoinette Schoar" -- "I. Entrepreneurial Heterogeneity" -- "1. High- Growth Young Firms: Contribution to Job, Output, and Productivity Growth / John Haltiwanger, Ron S. Jarmin, Robert Kulick, and...

We show that grading standards for primary school exams in England have triggered an inflation of quality indicators in the national performance tables for almost two decades. The cumulative effects have resulted in significant differences in the quality signaled to parents for otherwise...