NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Older and Slower: The Startup Deficit's Lasting Effects on Aggregate Productivity Growth

Titan Alon, David Berger, Robert Dent, Benjamin Pugsley

NBER Working Paper No. 23875
Issued in September 2017

---- Acknowledgements ----

Prepared for the Carnegie-Rochester-NYU Conference, NYU, April 2017. We are grateful for the very helpful comments from an anonymous referee as well from Steve Davis, Ryan Decker, John Haltiwanger, Greg Kaplan, Pete Klenow, Geoffrey Tate, and participants in the NBER Entrepreneurship and Economic Growth conferences, Northwestern University Macro Lunch, Carnegie-Rochester-NYU Conference on Public Policy, 2017 SED meetings, and the NBER Macro Productivity group. We also thank Javier Miranda and Ryan Decker for their generous assistance with the Business Register, Jim Spletzer for his documentation, Sara Moreira for her work merging the revenue data to the LBD and Harry Wheeler for his excellent research assistance. Any opinions and conclusions expressed herein are those of the author(s) and do not necessarily represent the views of the U.S. Census Bureau or the National Bureau of Economic Research. All results have been reviewed to ensure that no confidential information is disclosed.

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