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The Bulletin on Entrepreneurship

Introducing recent NBER entrepreneurship research and the scholars who conduct it
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After the outbreak of COVID-19, more-experienced and higher-quality job applicants shifted from early-stage companies to the safety of more-established firms. Like investors who reallocate their portfolios toward safer assets during volatile times in financial markets, job seekers during the COVID-19 pandemic have shifted their focus from startup businesses to larger firms. During the pandemic, small and young entrepreneurial firms have had fewer job applicants —...

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Analysis of a million firms founded between 2005 and 2010 finds that immigrants are more likely than native-born Americans to launch new enterprises of all sizes. In "Immigration and Entrepreneurship in the United States" (NBER Working Paper 27778), Pierre Azoulay, Benjamin Jones, J. Daniel Kim, and Javier Miranda show that compared with native-born Americans, immigrants play a larger role as employers than as employees. The researchers analyze data on more...
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Jobs in which self-employed individuals can regulate their working hours reduce the risk of launching new businesses by providing an income fallback. In the gig economy, software platforms provide self-employed individuals with easy access to flexible work opportunities. Gig workers contract with platform owners to provide on-demand services to their clients on a per-task basis. As independent contractors, these workers can determine how much they will work by...
Entrepreneurship, the creation of new businesses and the commercialization of new ideas, is a key contributor to economic growth and an important pathway to upward economic mobility.  Young firms are responsible for a disproportionate share of new job creation, and startups play a vital role in many technology-intensive industries.   The NBER Bulletin on Entrepreneurship is designed to highlight economic scholarship that addresses key questions about...
Yael Hochberg is the Ralph S. O’Connor Professor in Entrepreneurship and a professor of finance at Rice University. She is a research associate in two NBER programs: Corporate Finance, and Productivity, Innovation, and Entrepreneurship. Her efforts to understand and improve entrepreneurial systems focus on the venture capital industry, accelerators, and policy.  In addition to her doctorate in finance from Stanford University, she holds a BSc in industrial...
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