Department Profiles
Research Profiles of the IWH Departments All doctoral students are allocated to one...
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People
People Job Market Candidates Doctoral...
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People
People Job Market Candidates Doctoral...
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Department Profiles
Research Profiles of the IWH Departments All doctoral students are allocated to one...
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Reports des European Forecasting Network (EFN)
Reports des European Forecasting Network (EFN) Das European Forecasting Network...
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CompNet Database
The CompNet Competitiveness Database The Competitiveness Research Network (CompNet)...
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IWH-CompNet Discussion Papers
IWH-CompNet Discussion Papers Die IWH-CompNet Discussion Papers beinhalten...
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Who Creates New Firms When Local Opportunities Arise?
Shai B. Bernstein, Emanuele Colonnelli, Davide Malacrino, Timothy McQuade
Journal of Financial Economics,
Nr. 1,
2022
Abstract
We examine the characteristics of the individuals who become entrepreneurs when local opportunities arise. We identify local demand shocks by linking fluctuations in global commodity prices to municipality-level agricultural endowments in Brazil. We find that the firm creation response is mostly driven by young and skilled individuals. The characteristics of these responsive entrepreneurs are significantly different from those of average entrepreneurs in the economy. By structurally estimating a novel two-sector model of a local economy, we highlight how the demographic composition of the local population can significantly affect the entrepreneurial responsiveness of the economy.
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Immigration and Entrepreneurship in the United States
Pierre Azoulay, Benjamin Jones, J. Daniel Kim, Javier Miranda
Abstract
Immigration can expand labour supply and create greater competition for native-born workers. But immigrants may also start new firms, expanding labour demand. This paper uses U.S. administrative data and other data resources to study the role of immigrants in entrepreneurship. We ask how often immigrants start companies, how many jobs these firms create, and how these firms compare with those founded by U.S.-born individuals. A simple model provides a measurement framework for addressing the dual roles of immigrants as founders and workers. The findings suggest that immigrants act more as "job creators" than "job takers" and that non-U.S. born founders play outsized roles in U.S. high-growth entrepreneurship.
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Total Factor Productivity and the Terms of Trade
Jan Teresinski
IWH-CompNet Discussion Papers,
Nr. 6,
2019
Abstract
In this paper we analyse how the terms of trade (TOT) – the ratio of export prices to import prices – affect total factor productivity (TFP). We provide empirical macroeconomic evidence for the European Union countries based on the times series SVAR analysis and microeconomic evidence based on industry level data from the Competitiveness Research Network (CompNet) database which shows that the terms of trade improvements are associated with a slowdown in the total factor productivity growth. Next, we build a theoretical model which combines open economy framework with the endogenous growth theory. In the model the terms of trade improvements increase demand for labour employed in exportable goods production at the expense of technology production (research and development – R&D) which leads to a shift of resources from knowledge development towards physical exportable goods. This reallocation has a negative impact on the TFP growth. Under a plausible calibration the model is able to replicate the observed empirical pattern.
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