The financing behaviour of private US firms has been somewhat neglected in the firm dynamics literature. This column presents a new dataset for studying these firms’ behaviour and explores how the Great Recession affected their growth. The results show substantial heterogeneity in leverage by firm age and size among private firms, but not among public firms.
Emin Dinlersoz, Henry Hyatt, Sebnem Kalemli-Ozcan, Veronika Penciakova, 09 January 2019
Thomas Cooley, Espen Henriksen, 11 June 2018
Demographic change represents an important contributing factor to the slowdown of long-run growth. This column explores some of the channels through which this occurs and how the effects of demographic change can be mitigated. Policies that target consumption-saving choices, labour-leisure choices, and human capital accumulation over the lifecycle are likely to be most effective.
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