Veranstaltung
28
Nov 2022

15:00 - 16:15
IWH Research Seminar

Demographic Origins of the Startup Deficit

We propose a simple explanation for the long-run decline in the startup rate. It was caused by a slowdown in labor supply growth since the late 1970s, largely pre-determined by demographics.

Wer
Benjamin Pugsley  (University of Notre Dame)
Wo
via Zoom
Benjamin Pugsley

Zur Person

Benjamin Pugsley is Robert and Irene Bozzone Associate Professor of Economics at University of Notre Dame. His research interest are entrepreneurship, firm dynamics, applied macroeconomics and growth.

We propose a simple explanation for the long-run decline in the startup rate. It was caused by a slowdown in labor supply growth since the late 1970s, largely pre-determined by demographics. This channel explains roughly two-thirds of the decline and why incumbent firm survival and average growth over the lifecycle have been little changed. We show these results in a standard model of firm dynamics and test the mechanism using shocks to labor supply growth across states. Finally, we show that a longer startup rate series imputed using historical establishment tabulations rises over the 1960-70s period of accelerating labor force growth. Read more ...

To join the lecture via ZOOM, please contact Javier Miranda.

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