Peer-Reviewed Publications
Other Publications
Working Papers

Peer-Reviewed Publications

Where Has All the Skewness Gone? The Decline in High-Growth (Young) Firms in the U.S., with John Haltiwanger, Ron S. Jarmin, and Javier Miranda. 2016. European Economic Review 86 (July): 4-23. [pdf] (CES working paper #15-43; NBER working paper #21776)
[Web appendix]

• Nick Bunker, "The consequences of unskewed U.S. business growth," Washington Center for Equitable Growth, December 8, 2015
• Jeffrey Sparshott, "What happened to the breakout startup?" Real Time Economics at The Wall Street Journal, December 8, 2015
  
• Leonid Bershidsky, "The tech revolution fails to deliver," Bloomberg View, December 8, 2015
• Bob Bryan, "US startups are on the decline, and it's terrible news for the economy," Business Insider, December 9, 2015
• Robert J. Samuelson, "The start-up slump," The Washington Post, December 16, 2015
• Thomas B. Edsall, "Boom or gloom?" The New York Times, January 27, 2016
• Ben Casselman, "The next Amazon (or Apple, or GE) is probably failing right now," FiveThirtyEight, March 3, 2016
• Geoff Colvin, "The surprising slowdown in startups", Fortune, March 18, 2016
• Adam Ozimek, "The decline of corporations," Forbes, May 8, 2016
  
• Fareed Zakaria, "Why is the number of U.S. start-ups falling?" Washington Post, May 19, 2016
• Governor Jerome Powell, "Recent economic developments, monetary policy considerations and longer-term prospects," speech at the Chicago Council on Global Affairs, June 28, 2016
• Gary Hamel and Michele Zanini, "A few unicorns are no substitute for a competitive, innovative economy," Harvard Business Review, February 8, 2017
• Economic Innovation Group, "Dynamism in retreat," February 2017
• Ben Casselman, "A Start-Up Slump is a Drag on the Economy. Big Business May Be to Blame," New York Times, September 20, 2017
  

Market exposure and endogenous firm volatility over the business cycle, with Pablo N. D'Erasmo and Hernan Moscoso Boedo. 2016. American Economic Journal: Macroeconomics 8(1): 148-98. [pdf]

This paper was originally circulated as "Intangibles and endogenous firm volatility over the business cycle".

• November 2013 Midwest Macro meetings

The role of entrepreneurship in U.S. job creation and economic dynamism, with John Haltiwanger, Ron S. Jarmin, and Javier Miranda. 2014. Journal of Economic Perspectives 28:3-24. [pdf]

• 2012 APPAM Fall Research Conference
  

• Richard Florida, "The troubling decline of American business dynamism," CityLab, July 31, 2014
• Robert J. Samuelson, "Where have all the entrepreneurs gone?" The Washington Post, August 6, 2014
• Ben Casselman, "Corporate America hasn't been disrupted," FiveThirtyEight, August 8, 2014
• Dane Stangler and Jordan Bell-Masterson, "Can millennials reverse America's declining rates of entrepreneurship?" Washington Monthly, August 17, 2014
• Salim Furth, "Help the economy: Update your resume and get a new job," The Wall Street Journal, August 25, 2014
• Justin Fox, "The Disruption Myth," The Atlantic, September 17, 2014
• Economic Report of the President, 2015
• Speech, Jason Furman and Peter Orszag, "A Firm-Level Perspective on the Role of Rents in the Rise in Inequality," October 16, 2015
• Economic Report of the President, 2016
• Council of Economic Advisers Brief, "Benefits of Competition and Indicators of Market Power," April 2016
• Walter Frick, "Don't expect new crowdfunding rules to create a startup boom," Harvard Business Review, May 16, 2016
  

Other Publications

Working Papers

This paper combines research from two previously circulating working papers: (1) "Changing business dynamism: Volatility of shocks vs. responsiveness to shocks?", and (2) "Declining business dynamism: Implications for productivity?". The latter paper was prepared for a Brookings Hutchins Center conference and is described here.

• Melinda Pitts, Richard Rogerson, and Robert Shimer, "A closer look at changes in the labor market," Seeking Alpha
• Nick Bunker, "What's happening to the growth of productive new firms" Washington Center for Equitable Growth, January 13, 2016
• Vice Chairman Stanley Fischer, "Remarks on the U.S. Economy," speech at The Aspen Institute, August 21, 2016
  

Entrepreneurship and state policy, with E. Mark Curtis [pdf]

Firm dynamics and local economic shocks: Evidence from the shale oil and gas boom, with Meagan McCollum and Gregory B. Upton Jr. [draft coming soon]

The geography of firms, with Keith Barnatchez and Leland Crane [draft coming soon]



Using payroll processor microdata to measure aggregate labor market activity, with Tomaz Cajner, Leland Crane, Adrian Hamins-Puertolas, Christopher Kurz, and Tyler Radler [draft coming soon]



Collateral damage: Housing, entrepreneurship, and job creation (job market paper) [pdf].

• University of Mississippi, University of Georgia, Brigham Young University, University of Oregon, Bureau of Labor Statistics, Federal Reserve Board, Federal Reserve Bank of Minneapolis
  

Permanent Unpublished Manuscripts

Declining  business dynamism: Implications for productivity? with John Haltiwanger, Ron S. Jarmin, and Javier Miranda. [pdf]. (Hutchins Center Working Paper #23)

This manuscript was prepared for a Brookings Hutchins Center event on productivity growth. We do not intend to publish this specific manuscript. Much of the material included in this paper is present in other papers, some published and some still in progress.



The Secular Decline in Business Dynamism in the U.S., with John Haltiwanger, Ron S. Jarmin, and Javier Miranda. [pdf].

We do not intend to publish this manuscript. Much of the material included in this paper is present in other papers, some published and some still in progress.

• Heritage Foundation Center for Data Analysis, George Mason University

Selected Coverage:

• Noah Smith, "Why America stopped being a startup nation," Bloomberg View, January 20, 2016
  
• Economic Report of the President, 2016
• Council of Economic Advisers Brief, "Benefits of Competition and Indicators of Market Power," April 2016
• Jon Hilsenrath and Bob Davis, "Why China Trade Hit U.S. Workers Unexpectedly Hard," Real Time Economics at the Wall Street Journal, August 11, 2016