|
on Entrepreneurship |
| By: | Ufuk Akcigit; Sina T. Ates; Joshua Lerner; Richard Townsend; Yulia Zhestkova Grigsby |
| Abstract: | Over the past decade, a salient feature of the U.S. entrepreneurship has been the growing extent of foreign venture investments in Silicon Valley, particularly from Chinese corporations, individuals, and financial institutions. |
| Date: | 2024–12–31 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fedgfn:2024-12-31 |
| By: | Jesus Fernandez-Villaverde; Yang Yu; Francesco Zanetti |
| Abstract: | Defensive hiring of researchers by incumbent firms with monopsony power reduces creative destruction. This mechanism helps explain the simultaneous rise in R&D spending and decline in TFP growth in the US economy over recent decades. We develop a simple model highlighting the critical role of the inelastic supply of research labor in enabling this effect. Empirical evidence confirms that the research labor supply in the US is indeed inelastic and supports other model predictions: incumbent R&D spending is negatively correlated with creative destruction and sectoral TFP growth while extending incumbents’ lifespan. All these effects are amplified when ideas are harder to find. An extended version of the model quantifies these mechanisms’ implications for productivity, innovation, and policy. |
| Keywords: | productivity growth, innovation, R&D, patents, creative destruction |
| JEL: | E22 L11 O31 O33 |
| Date: | 2025–03 |
| URL: | https://d.repec.org/n?u=RePEc:een:camaaa:2025-15 |
| By: | Qazi Haque; Oscar Pavlov; Mark Weder |
| Abstract: | Recent decades have seen a rise in the market power of large firms. We propose a theory in which their technology involves the ability to produce multiple products. Large firms interact with smaller competitors and market share reallocations via product creation generate heterogeneous markup dynamics across the firm types. Higher market shares of large firms increase the parameter space for macroeconomic indeterminacy. Bayesian estimation of the general equilibrium model suggests the importance of the endogenous amplification of the product creation channel and animal spirits play a non-trivial role in driving U.S. business cycles. |
| Keywords: | indeterminacy, business cycles, multi-product firms, animal spirits, Bayesian estimation |
| JEL: | E32 |
| Date: | 2025–04 |
| URL: | https://d.repec.org/n?u=RePEc:een:camaaa:2025-20 |
| By: | Brolhato, Sara; Xavier Cirera; Antonio Soares Martins Neto |
| Abstract: | Businesses of the state (BOS) have regained the public debate in midst of the COVID-19 pandemic, especially as a source of resilience to shocks and a mechanism for technology development and diffusion. However, little is known about the impacts on the economy. This paper uses a novel dataset that allows exploring the importance of BOS in Brazil, including registered state-owned or mixed enterprises and with indirect state participation in competitive sectors. The paper looks at their impact through two connected perspectives: employment and business dynamism. First, the analysis tests whether BOS pay a wage premium to their employees. Then, it estimates the impacts of privatization on workers’ outcomes and firms’ total employment. The findings indicate that BOS firms pay a substantial wage premium in Brazil and that privatization events lead to a significant decline in workers’ wages. Yet, the analysis does not find robust evidence that privatization results in a decline in total employment. The findings show that BOS tend to use more technical workers, a proxy for innovation, and are larger and grow faster in terms of employment than private companies. Finally, the paper analyzes what the presence of BOS means for the business dynamism of sectors. It finds that a higher presence of BOS in a given sector is negatively correlated with young firms’ participation and exit rates, and job destruction rates. Meanwhile, BOS participation is positively correlated with market concentration, but also job creation rates. The results suggest that BOS have significant impacts on markets, and that assessment of the state’s footprint needs to consider the effects of public investments in private companies, directly and indirectly. |
| Date: | 2025–03–06 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wbrwps:11082 |
| By: | Andrén, Daniela (Örebro University School of Business); Kremel, Anna (Örebro University School of Business) |
| Abstract: | Work Integrated Social Enterprises (WISEs) have emerged as a powerful and dynamic force in redefining the established norms while enhancing sustainability, promoting integration and nurturing more inclusive working societies by addressing employment barriers for marginalized groups. Using data from semi-structured interviews with WISEs in a mid-sized Swedish municipality, this article’s findings reveal the challenges they face, such as financial sustainability, the need for formal organizational structures, and societal prejudices. The findings highlight WISEs’ strategies for balancing economic stability with their social mission and emphasize the pivotal role of municipal and regional governance in supporting their operations. Targeted policy support in areas like management, human resources, and financial backing is essential to ensure WISEs’ survival and long-term success. |
| Keywords: | work integrated social enterprises; social inclusion; entrepreneurship; municipal support |
| JEL: | I38 L31 R58 |
| Date: | 2025–04–07 |
| URL: | https://d.repec.org/n?u=RePEc:hhs:oruesi:2025_007 |
| By: | Philippe Andrade; Alexander Dietrich; John Leer; Raphael Schoenle; Jenny Tang; Egon Zakrajšek |
| Abstract: | Small and medium-sized businesses (SMBs) constitute an integral part of the US economy, driving job creation and economic growth. They account for approximately half of private-sector employment and play a crucial role in fostering competition, all the while supporting local communities. This brief uses a new survey of SMB decision-makers to study how US tariff changes could affect businesses’ costs and prices. |
| Keywords: | business expectations; surveys; tariffs; cost-price pass-through; inflation |
| JEL: | E31 F13 F14 F40 C83 |
| Date: | 2025–04–10 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fedbcq:99813 |
| By: | Michael S. Barr |
| Date: | 2025–03–24 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fedgsq:99722 |
| By: | Adriana Kugler |
| Date: | 2025–03–25 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fedgsq:99723 |
| By: | A, Nasrullah |
| Abstract: | entrepreneurs are the person or communities who have the brave to take a risk to create new things that can help other people around, or entrepreneur is the fusion of creativity and innovation to make something new with used all of the resources around, such as natural, human, and capital resources. Entrepreneurs not only think about their selves but also think about all of the social impact and aspects around them. Everyone can be an entrepreneur with their potential, so they need to explore their potential to improve. The statement is supported by (Lloyd, 1994) who stated that entrepreneurs are made not born. In entrepreneurs some concepts need to be considered, that’s agility (the ability to move faster), endurance (supporting production and selling point), Speed (An Ability to improve consumer satisfaction and need), Flexibility: (Adaptation to conditions), and Strength (Mental and physic). And then entrepreneurs also need to have IDEA; Innovation/Improvisation, Development/Dedication, Enthusiasm, and Action. Besides that, ENTREPRENEUR is a jargon of Enthusiasm, Negotiation, Technology, Education, Realisation, Personality, Realistic, Effective, Needs, Empowerment, Unselfish, and Respected. |
| Date: | 2023–03–17 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:zt8sv_v1 |