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Titel
Business cycles and start-ups across industries: an empirical analysis of German regions / Alexander Konon (DIW Berlin), Michael Fritsch (Friedrich Schiller University Jena and Halle Institute for Economic Research (IWH)), Alexander Kritikos (DIW Berlin, University of Potsdam, IAB and IZA) ; IZA Institute of Labor Economics
VerfasserKonon, Alexander ; Fritsch, Michael ; Kritikos, Alexander
KörperschaftForschungsinstitut zur Zukunft der Arbeit
ErschienenBonn, Germany : IZA Institute of Labor Economics, April 2018
Ausgabe
Elektronische Ressource
Umfang1 Online-Ressource (56 Seiten) : Diagramme, Karten
SerieDiscussion paper ; no. 11501
URNurn:nbn:de:hbz:5:2-156137 
Zugriffsbeschränkung
 Das Dokument ist öffentlich zugänglich im Rahmen des deutschen Urheberrechts.
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Business cycles and start-ups across industries: an empirical analysis of German regions [0.48 mb]
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Zusammenfassung

We analyze whether start-up rates in different industries systematically change with business cycle variables. Using a unique data set at the industry level, we mostly find correlations that are consistent with counter-cyclical influences of the business cycle on entries in both innovative and non-innovative industries. Entries into the large-scale industries, including the innovative part of manufacturing, are only influenced by changes in the cyclical component of unemployment, while entries into small-scale industries, like knowledge intensive services, are mostly influenced by changes in the cyclical component of GDP. Thus, our analysis suggests that favorable conditions in terms of high GDP might not be germane for start-ups. Given that both innovative and non-innovative businesses react counter-cyclically in 'regular' recessions, business formation may have a stabilizing effect on the economy.