Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/174373
Authors: 
Fritsch, Michael
Konon, Alexander
Kritikos, Alexander
Year of Publication: 
2017
Series/Report no.: 
Jena Economic Research Papers No. 2017-013
Abstract: 
We analyze whether start-up rates in different industries systematically change with business cycle variables. We mostly find correlations that are consistent with coun- ter-cyclical influences of the business cycle on entries in both innovative and non-in- novative industries. Entries into the large-scale industries, including the innovative part of the manufacturing sector, are more strongly influenced by changes in the cy- clical component of unemployment, while entries into small-scale industries, like the knowledge intensive services, are merely influenced by changes in the cyclical com- ponent of GDP. Business formation may therefore have a stabilizing effect on the economy.
Subjects: 
business cycle
Entrepreneurship
innovative industries
manufacturing
New business formation
services
JEL: 
L26
E32
L16
R11
Document Type: 
Working Paper

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