This paper asks why the nature of business cycles changes systematically as economies develop and shed their large agricultural sectors. The motivation is both empirical and theoretical.
This paper studies entrepreneurship and new firm creation in China through the lens of serial entrepreneurs (SEs) — individuals who establish more than one firm — contrasting them with non-serial …
This review organizes the quantitative macroeconomics literature on household heterogeneity around the "standard incomplete markets" model, asking what sources of individual risk matter most, what …