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What's driving the decline in entrepreneurship?

2025-09-01Research article Open access
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datacite.subject.sdg04:Educação de Qualidade
dc.contributor.authorKozeniauskas, Nicholas
dc.date.accessioned2025-09-08T08:26:44Z
dc.date.available2025-09-08T08:26:44Z
dc.date.issued2025-09-01
dc.description.abstractWhy has there been a steady decline in entrepreneurship in the US in recent decades? To answer this question, I develop a general equilibrium occupation choice model and combine it with data on these choices. Skill-biased technical change can account for much of the decline in the relative entrepreneurship rate of more educated people, but cannot explain the decline in the aggregate level of entrepreneurship. The major factors in the decline in the share of people who are entrepreneurs, the firm entry rate, and the size of the entrepreneur sector are rising entry costs and outsized productivity gains by large non-entrepreneur firms.eng
dc.identifier.citationKozeniauskas, N. (2025). What's driving the decline in entrepreneurship? Journal of Monetary Economics, 154, Article 103812. https://doi.org/10.1016/j.jmoneco.2025.103812
dc.identifier.doi10.1016/j.jmoneco.2025.103812
dc.identifier.eid105012576969
dc.identifier.issn0304-3932
dc.identifier.othere62c0b95-c4da-411f-bd33-483820689e05
dc.identifier.urihttp://hdl.handle.net/10400.14/54704
dc.identifier.wos001558519700002
dc.language.isoeng
dc.peerreviewedyes
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subjectEntrepreneurship
dc.subjectEntry costs
dc.subjectFixed costs
dc.subjectOccupational choice
dc.subjectProductivity
dc.subjectSkill-biased technical change
dc.titleWhat's driving the decline in entrepreneurship?eng
dc.typeresearch article
dspace.entity.typePublication
oaire.citation.titleJournal of Monetary Economics
oaire.citation.volume154
oaire.versionhttp://purl.org/coar/version/c_970fb48d4fbd8a85

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