what extent business cycles or unemployment levels influence entries into entrepreneurship. Our analysis for Germany … reveals that there is a positive relationship between unemployment rates and start-up activities. Moreover, new business … disentangling periods of low and high unemployment we find that the effect of unemployment on new business formation is only …

A common finding in the entrepreneurship literature is that business creation increases in recessions. This counter …-cyclical pattern is examined by separating business creation into two components: "opportunity" and "necessity" entrepreneurship … entrepreneurship, there are many challenges to creating a definition that is both objective and empirically feasible. We propose an …