Can Unemployment Insurance Spur Entrepreneurial Activity? Evidence from France

J. Hombert, A. Schoar, D. Sraer, D. Thesmar
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引用次数: 59

Abstract

We study a large-scale French reform that provided generous downside insurance for unemployed individuals starting a business. We study whether this reform affects the composition of people who are drawn into entrepreneurship. New firms started in response to the reform are, on average, smaller, but have similar growth expectations and education levels compared to start-ups before the reform. They are also as likely to survive or to hire. In aggregate, the effect of the reform on employment is largely offset by large crowd-out effects. However, because new firms are more productive, the reform has the impact of raising aggregate productivity. These results suggest that the dispersion of entrepreneurial abilities is small in the data, so that the facilitation of entry leads to sizable Schumpeterian dynamics at the firm-level.
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失业保险能刺激创业活动吗?来自法国的证据
我们研究了一项大规模的法国改革,该改革为创业的失业个人提供了慷慨的下行保险。我们研究这项改革是否影响了被吸引到创业中的人的构成。为应对改革而成立的新企业平均规模较小,但与改革前的初创企业相比,它们的增长预期和教育水平相似。他们也同样有可能生存下来或招人。总的来说,改革对就业的影响在很大程度上被大规模的挤出效应所抵消。然而,由于新企业的生产率更高,改革对提高总生产率产生了影响。这些结果表明,在数据中,创业能力的分散性很小,因此进入的便捷性导致了相当大的企业层面的熊彼特动态。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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