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What is the Economic Impact of the Slowdown in New Business Formation?

Author

Listed:
  • Francois Gourio
  • Todd Messer
  • Michael Siemer

Abstract

Economists have emphasized the importance of ?creative destruction? as an engine of growth. The creative destruction process involves a constant reorganization of the economy as old products, firms, factories, and jobs are replaced by new ones. An important part of this process lies in the opening of new firms or establishments.

Suggested Citation

  • Francois Gourio & Todd Messer & Michael Siemer, 2014. "What is the Economic Impact of the Slowdown in New Business Formation?," Chicago Fed Letter, Federal Reserve Bank of Chicago, issue Sep.
  • Handle: RePEc:fip:fedhle:00013
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    Citations

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    Cited by:

    1. Peter Bauer & Igor Fedotenkov & Aurelien Genty & Issam Hallak & Peter Harasztosi & David Martinez Turegano & David Nguyen & Nadir Preziosi & Ana Rincon-Aznar & Miguel Sanchez Martinez, 2020. "Productivity in Europe: Trends and drivers in a service-based economy," JRC Working Papers JRC119785, Joint Research Centre (Seville site).
    2. Akcigit, Ufuk & Akgunduz, Yusuf Emre & Cilasun, Seyit Mumin & Ozcan-Tok, Elif & Yilmaz, Fatih, 2020. "Facts on business dynamism in Turkey," European Economic Review, Elsevier, vol. 128(C).
    3. Pau Roldan & Laurent Cavenaile, 2016. "Advertising, Innovation and Economic Growth," 2016 Meeting Papers 150, Society for Economic Dynamics.
    4. Ufuk Akcigit & Sina T. Ates, 2019. "What Happened to U.S. Business Dynamism?," CESifo Working Paper Series 7854, CESifo.
    5. Ufuk Akcigit & Sina T. Ates, 2019. "Ten Facts on Declining Business Dynamism and Lessons from Endogenous Growth Theory," NBER Working Papers 25755, National Bureau of Economic Research, Inc.
    6. Ufuk Akcigit & Sina T. Ates, 2019. "What Happened to U.S. Business Dynamism?," NBER Working Papers 25756, National Bureau of Economic Research, Inc.
    7. Sedláček, Petr, 2020. "Lost generations of firms and aggregate labor market dynamics," Journal of Monetary Economics, Elsevier, vol. 111(C), pages 16-31.

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