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Keywords:Firm entry 

Working Paper
Firm Entry and Macroeconomic Dynamics: A State-level Analysis

Using an annual panel of US states over the period 1982-2014, we estimate the response of macroeconomic variables to a shock to the number of new firms (startups). We find that these shocks have significant effects that persist for many years on real GDP, productivity, and population. This result is consistent with simple models of firm dynamics where a ?missing generation? of firms affects productivity persistently.
Finance and Economics Discussion Series , Paper 2016-043

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