We combine novel micro data with quasi-random timing of patent decisions over the business cycle to estimate the effects of the Great Recession on innovative startups. After purging ubiquitous selection biases and sorting effects, we find that recession startups experience better long-term outcomes in terms of employment and sales growth (both driven by lower mortality) and future inventiveness. While funding conditions cannot explain differences in outcomes, a labor market channel can: recession startups are better able to retain their founding inventors and build productive R&D teams around them.
Date
23.5.2023
, 2 to 3:30 p.m. (CEST)
Speaker
Daniel Bias (Vanderbilt University)
Venue
The seminar will be held via Zoom. The login information will be send out a day before the seminar.
Registration
Researchers who would like to participate, please send an email to macrolabor.seminar@gmail.comIn neuem Fenster öffnen.
Further information
Please find the preliminary schedule here.
We also encourage you to present your own research and to forward this message to other researchers who might be interested in the seminar series.