We show that skill requirements in job vacancy postings differentially increased in MSAs that
were hit hard by the Great Recession, relative to less hard-hit areas. These increases persist …

Assessing the state of American entrepreneurship requires not simply counting the quantity
but also the initial quality of new ventures. Combining comprehensive business registries …

This paper uses new confidential Census data to revisit the relationship between firm size,
cyclicality, and financial frictions. First, we find that large firms (the top 1 percent by size) are …

We consider a model of heterogeneous production units with endogenous entry and
productivity investment to assess the quantitative impact of policy distortions: when the …

We document that monetary policy has a substantial impact on innovation activities. After a
tightening shock of 100 basis points, research and development (R&D) spending declines …

Declining firm entry and the aging incumbent firms have meaningful implications for sluggish
US aggregate productivity growth. We provide a framework to characterize the contributions …

In the wake of the COVID-19 pandemic, the financial and legal system will need to deal with
a surge of financial distress in the business sector. Some firms will be able to survive, while …

This commentary argues that scaling fast growth firms drive economic development, even in
recessionary periods. While the coronavirus induced the 'Great Lockdown'and its aftermath …

Population growth has declined markedly in almost all major economies since the 1970s.
We argue this trend has important consequences for the process of firm dynamics and …

Unemployment Insurance (UI) benefits have a moral hazard effect and a liquidity effect, with
both generating increases in unemployment spells but the latter increasing wages due to the …