000			03042cam a22003737 4500
001			w21776
003			NBER
005			20211020105424.0
006			m o d
007			cr cnu||||||||
008			210910s2015 mau fo 000 0 eng d
100	1		_aDecker, Ryan A.
245	1	0	_aWhere Has All The Skewness Gone? The Decline In High-Growth (Young) Firms In The U.S. / _cRyan A. Decker, John Haltiwanger, Ron S. Jarmin, Javier Miranda.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c2015.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w21776
500			_aDecember 2015.
520	3		_aThe pace of business dynamism and entrepreneurship in the U.S. has declined over recent decades. We show that the character of that decline changed around 2000. Since 2000 the decline in dynamism and entrepreneurship has been accompanied by a decline in high-growth young firms. Prior research has shown that the sustained contribution of business startups to job creation stems from a relatively small fraction of high-growth young firms. The presence of these high-growth young firms contributes to a highly (positively) skewed firm growth rate distribution. In 1999, a firm at the 90th percentile of the employment growth rate distribution grew about 31 percent faster than the median firm. Moreover, the 90-50 differential was 16 percent larger than the 50-10 differential reflecting the positive skewness of the employment growth rate distribution. We show that the shape of the firm employment growth distribution changes substantially in the post-2000 period. By 2007, the 90-50 differential was only 4 percent larger than the 50-10, and it continued to exhibit a trend decline through 2011. The overall decline reflects a sharp drop in the 90th percentile of the growth rate distribution accounted for by the declining share of young firms and the declining propensity for young firms to be high-growth firms.
530			_aHardcopy version available to institutional subscribers
538			_aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538			_aMode of access: World Wide Web.
588	0		_aPrint version record
690		7	_aE24 - Employment • Unemployment • Wages • Intergenerational Income Distribution • Aggregate Human Capital • Aggregate Labor Productivity _2Journal of Economic Literature class.
690		7	_aJ63 - Turnover • Vacancies • Layoffs _2Journal of Economic Literature class.
690		7	_aL26 - Entrepreneurship _2Journal of Economic Literature class.
700	1		_aHaltiwanger, John. _912288
700	1		_aJarmin, Ron S.
700	1		_aMiranda, Javier.
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w21776.
856	4	0	_uhttps://www.nber.org/papers/w21776
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w21776
942			_2ddc _cW-PAPER
999			_c326347 _d284909