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Colonial Americans were very poor by today’s standard of poverty. On
the eve of the American Revolution, GDP per capita in the United States
stood at approximately $765 (in 1992 dollars).1 Incomes r...
Why Development Levels Differ: The Sources of Differential Economic Growth in a Panel of High and Low Income Countries
Differential Economic Growth Levels Differ
2015/9/21
Average income per capita in the countries of the OECD was more than 20 times
larger in 2000 than that of the poorest developing countries. Two general explanations have been
offered to account fo...
DOES INFRASTRUCTURE INVESTMENT INCREASE TH PRODUCTIVITY OF MANUFACTURING INDUSTRY IN THE U.S.?
INVESTMENT INCREASE INFRASTRUCTURE
2015/9/21
The American South started the post World War II era as the poorest region
of the country. Per capita disposable income was less than 70 percent of the
national level and the South produced less tha...
Business dynamism plays an important role in job creation and productivity
growth in the United States. Business start-ups are an important contributor to
that dynamism. Start-ups contribute disprop...
It is well known that new businesses are typically much smaller than their established industry competitors,
and that this size gap closes slowly. We show that even in commodity-like product markets,...
Cross-Country Differences in Productivity: The Role of Allocation and Selection
Allocation Selection
2015/9/18
This paper investigates the effect of idiosyncratic ( firm-level) policy
distortions on aggregate outcomes. Exploiting harmonized firm-level
data for a number of countries, we show that there is sub...
The view that small businesses create the most jobs remains
appealing to policymakers and small business advocates. Using data from
the Census Bureau’s Business Dynamics Statistics and Longitudinal ...
This paper is the first to study vacancies, hires, and vacancy yields at the
establishment level in the Job Openings and Labor Turnover Survey, a large
sample of US employers. To interpret the data,...
Electricity Unit Value Prices and Purchase Quantities: U.S. Manufacturing Plants, 1963-2000
changing structure unit value prices
2015/9/18
We measure unit value electricity prices using 2 million annual
observations on U.S. manufacturing plants from 1963 to 2000. These
prices display tremendous cross-sectional dispersion, 85–95% of whi...
Cross country differences in job reallocation: The role of industry, firm size and regulations
firm size regulations
2015/9/18
Somewhat surprisingly, cross-country empirical evidence (at least in the cross section) does not seem to support
the predictions of standard models that economies with stricter regulations on hiring ...
The pace of business dynamism in the U.S. has declined over recent decades. The
decline is evident in a pronounced declining trend in the pace of both gross job creation
and gross job destruction an...
The Role of Entrepreneurship in US Job Creation and Economic Dynamism
the US economy Economic Dynamism
2015/9/18
The United States has long been viewed as having among the world’s most
entrepreneurial, dynamic, and flexible economies. It is often argued that
this dynamism and flexibility has enabled the US eco...
We thank Richard Rogerson, other conference participants, Claudia Goldin, Jason Faberman and Jim
Spletzer for helpful comments and the Kauffman Foundation, the University of Chicago Booth School
of ...
Top Ten Signs of Declining Business Dynamism and Entrepreneurship in the U.S.
Business Dynamism Entrepreneurship
2015/9/18
This paper was written for the Kauffman Foundation New Entrepreneurial Growth conference
in June 2015. Without implication, this paper draws heavily on joint work with Steven Davis,
Ryan Decker, Ron...