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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w21776 |
来源ID | Working Paper 21776 |
Where Has All The Skewness Gone? The Decline In High-Growth (Young) Firms In The U.S. | |
Ryan A. Decker; John Haltiwanger; Ron S. Jarmin; Javier Miranda | |
发表日期 | 2015-12-07 |
出版年 | 2015 |
语种 | 英语 |
摘要 | The pace of business dynamism and entrepreneurship in the U.S. has declined over recent decades. We show that the character of that decline changed around 2000. Since 2000 the decline in dynamism and entrepreneurship has been accompanied by a decline in high-growth young firms. Prior research has shown that the sustained contribution of business startups to job creation stems from a relatively small fraction of high-growth young firms. The presence of these high-growth young firms contributes to a highly (positively) skewed firm growth rate distribution. In 1999, a firm at the 90th percentile of the employment growth rate distribution grew about 31 percent faster than the median firm. Moreover, the 90-50 differential was 16 percent larger than the 50-10 differential reflecting the positive skewness of the employment growth rate distribution. We show that the shape of the firm employment growth distribution changes substantially in the post-2000 period. By 2007, the 90-50 differential was only 4 percent larger than the 50-10, and it continued to exhibit a trend decline through 2011. The overall decline reflects a sharp drop in the 90th percentile of the growth rate distribution accounted for by the declining share of young firms and the declining propensity for young firms to be high-growth firms. |
主题 | Macroeconomics ; Consumption and Investment ; Labor Economics ; Unemployment and Immigration ; Industrial Organization ; Firm Behavior |
URL | https://www.nber.org/papers/w21776 |
来源智库 | National Bureau of Economic Research (United States) |
引用统计 | |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579450 |
推荐引用方式 GB/T 7714 | Ryan A. Decker,John Haltiwanger,Ron S. Jarmin,et al. Where Has All The Skewness Gone? The Decline In High-Growth (Young) Firms In The U.S.. 2015. |
条目包含的文件 | 条目无相关文件。 |
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