Does local business ownership insulate cities from economic shocks?
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چکیده
0094-1190/$ see front matter 2009 Elsevier Inc. A doi:10.1016/j.jue.2009.08.006 q This paper was prepared for the NBER’s ‘‘Cities an ence, May 1-2, 2009. We thank Davin Reed and, especi outstanding research assistance, and Dan Black, Mark Will Strange for helpful comments. Our work with National Establishment Time Series was made possible Coulter Family Foundation to the Public Policy Inst expressed are our own, and do not represent those of California or the David A. Coulter Family Foundation. * Corresponding author. Address: Department of Science Plaza, Irvine, CA 92697, USA. Fax: +1 949 824 E-mail addresses: [email protected] (J. Kolko), dneum 1 Address: 500 Washington St., Suite 600, San Franc 2 Also a Bren Fellow at PPIC, a Research Associate Fellow at IZA. We assess a prominent argument for local economic policies that favor locally-owned businesses – namely, that locally-owned firms are more likely to internalize the costs to the community of decisions to reduce employment and hence help to insulate cities from adverse economic shocks. We test this argument by examining how establishment-level employment responses to economic shocks are affected by establishment ownership. We find evidence that some types of local ownership do insulate regions from economic shocks, although the clearest benefits do not come from small, independent businesses, but instead from corporate headquarters and, to a lesser extent, from small, locally-owned chains. 2009 Elsevier Inc. All rights reserved.
منابع مشابه
S Forschungsinstitut zur Zukunft der Arbeit Institute for the Study of Labor Does Local Business Ownership Insulate Cities from Economic Shocks ? IZA DP No . 4415 September 2009
Does Local Business Ownership Insulate Cities from Economic Shocks? * We assess a prominent argument for local economic policies that favor locally-owned businesses – namely, that locally-owned firms are more likely to internalize the costs to the community of decisions to reduce employment and hence help to insulate cities from adverse economic shocks. We test this argument by examining how es...
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تاریخ انتشار 2009