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Journal Article
Business financing in early 1957
Report
Firms and flexibility
We study the effects of labor market rigidities and frictions on firm-size distributions and dynamics. We introduce a model of endogenous entrepreneurship, labor market frictions, and firm-size dynamics with many types of rigidities, such as hiring and firing costs, search frictions with vacancy costs, unemployment benefits, firm entry costs, and a tax wedge between wages and labor costs. We use the model to analyze how each rigidity explains firm-size differentials between the United States and France. We find that when we include all rigidities and frictions except hiring costs and search ...
Speech
Securing the recovery and building for the future
Remarks at United States Military Academy at West Point, West Point, New York.
Journal Article
Business finance in the transition