L26

Galina Vereshchagina

This paper quantifies how idiosyncratic firm-level risk affects aggregate output, TFP, and firm life-cycle growth in an environment where firm productivity evolves endogenously through risky …

Nicholas Kozeniauskas

The entrepreneurship rate in the United States—defined as the share of the labor force who own and actively manage a business with at least ten employees—declined by 26% between 1987 and 2015, a …