This paper investigates the role that the entry and exit of heterogeneous firms plays in shaping aggregate fluctuations in economic activity. In so doing, it develops a dynamic stochastic general equilibrium model in which procyclical entry and countercyclical exit along a real business cycle...

This paper provides new theory and evidence on the relationship between ability and entrepreneurship. I show that there is a U-shaped relationship between the probability of entrepreneurship and both a person's schooling and wage when employed. This pattern can be explained in a model of...

We study how regional shocks spill over across US local markets through intra-firm market networks and explore how such spillovers reshape household welfare across regions. We identify spillovers by linking data on barcode-region-level prices and quantities with producer-level information and by...

The BSIs for the 1st quarter of 2014 indicate that the economic sentiment of manufacturing firms has worsened compared to the last quarter. The manufacturer’ assessment of business conditions has been below the baseline (100) since last year. Except for the ordinary profit (102), the BSIs on...

The overall composite Business Survey Index for the manufacturing sector in Q1 2021 remained under the baseline (100). Moreover, all feeder indices have slightly decreased compared to the previous quarter. Business conditions (92), sales (91), domestic demand (90), ordinary profit (88), and...

The overall composite Business Survey Index for the manufacturing sector in Q4 2020 remained under the baseline (100). However, all feeder indices have slightly increased compared to the previous quarter. Specifically, sales (96), domestic demand (96), and ordinary profit (92) showed...

The overall composite Business Survey Index for the manufacturing sector in the first quarter (Q1) of 2022 remained under the baseline (100). Moreover, all feeder indices have slightly decreased compared to the previous quarter.Business conditions (88), sales (86), domestic demand (88), exports...

The overall composite Business Survey Index for the manufacturing sector in Q2 2022 remained under the baseline (100). However, most feeder indices have increased compared to the previous quarter. Specifically, business conditions (90), sales (95), domestic demand (94), exports (96), and others...

The overall composite Business Survey Index for the manufacturing sector in the fourth quarter (Q4) of 2021 remained under the baseline (100). However, most feeder indices have slightly increased compared to the previous quarter. Specifically, sales (98), domestic demand (96), exports (100) and...

Software producers are making greater use of customer error reporting to discover defects and improve the quality of their products. We study how software development differences among producers (e.g., varying levels of process maturity) and software class and functionality differences (e.g.,...