Who creates new firms when local opportunities arise?
نویسندگان
چکیده
We examine the characteristics of individuals who become entrepreneurs when local opportunities arise. identify demand shocks by linking fluctuations in global commodity prices to municipality-level agricultural endowments Brazil. find that firm creation response is mostly driven young and skilled individuals. The these responsive are significantly different from those average economy. By structurally estimating a novel two-sector model economy, we highlight how demographic composition population can affect entrepreneurial responsiveness
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ژورنال
عنوان ژورنال: Journal of Financial Economics
سال: 2022
ISSN: ['1879-2774', '0304-405X']
DOI: https://doi.org/10.1016/j.jfineco.2021.05.045