Surging Business Formation in the Pandemic: Causes and Consequences?
研究了新冠疫情期间新企业注册意外激增的现象，发现这主要发生在受疫情改变工作、生活方式和商业模式影响的行业，并带来了实际雇主企业的增加和就业创造，同时与辞职潮和远程办公模式密切相关。
ABSTRACT: Applications for new businesses surprisingly surged during the COVID-19 pandemic, rising the most in industries rooted in pandemic-era changes to work, lifestyle, and business. The unexpected surge in applications raised questions about whether a surge in actual new employer businesses would follow. Evidence now shows increased employer business entry with notable associated job creation; and industries and locations with the largest increase in applications have had accompanying large increases in employer business entry. We also observe a tight connection between the surge in applications and quits—or close proxies for quits—both at the national and the local level. Within major cities, applications, net establishment entry, and our quits proxy each exhibit a "donut pattern," with less growth in city centers than in the surrounding areas, and these patterns are closely related to patterns of work-from-home activity. Reallocation of jobs across firm age, firm size, industry, and geography groupings increased significantly. Relatedly, there is evidence of a pause of the pre-pandemic trend toward greater economic activity being concentrated at large and mature firms, but this development is quite modest in magnitude.