Featured paper · 2021
Ten Facts on Declining Business Dynamism
The empirical baseline. Ten facts that any theory of the U.S. slowdown must match: declining startup rates, rising market concentration, slowing productivity, falling labor reallocation, and others. The paper any successor cites first.
Ufuk Akcigit, Sina T. Ates. AEJ: Macroeconomics, 2021.
The policy line
If the model does not reproduce these ten patterns, it is not modeling the right economy.
Summary
The empirical baseline. Ten facts that any theory of the U.S. slowdown must match: declining startup rates, rising market concentration, slowing productivity, falling labor reallocation, and others. The paper any successor cites first.
The Academy uses this paper as a primary text across its five pillars. The full text is available at the publisher.
