The dynamics of entrepreneurship: hysteresis, business cycles and government policy

被引：59

作者：

Congregado, Emilio ^{[1
]}

Golpe, Antonio A. ^{[1
]}

Parker, Simon C. ^{[2
]}

机构：

[1] Univ Huelva, Dept Econ, Huelva 21002, Spain

[2] Univ Western Ontario, London, ON, Canada

来源：

EMPIRICAL ECONOMICS | 2012年 / 43卷 / 03期

关键词：

Hysteresis; Unobserved components model; Time series models; Business cycles; Self-employment; Entrepreneurship; STATIONARITY PANEL TESTS; SELF-EMPLOYMENT; NATURAL RATE; UNEMPLOYMENT; TIME; GROWTH; ENTRY; EXIT; PERSISTENCE; COUNTRIES;

D O I：

10.1007/s00181-011-0516-6

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This article estimates two unobserved components models to explore the macrodynamics of entrepreneurship in Spain and the USA. We ask whether entrepreneurship exhibits hysteresis, defined as a macrodynamic structure in which the cyclical component of entrepreneurship has persistent effects on the natural rate of entrepreneurship. We find evidence of hysteresis in Spain, but not the USA, while in Spain business cycle output variations significantly affect future rates of entrepreneurship. The article discusses implications of the findings for the design of entrepreneurship policies.

引用

页码：1239 / 1261

页数：23

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