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Haltiwanger paper on high-growth start-up decline cited

Part of a process of "economic rot" the country faces, Bloomberg writer asserts

Noah Smith, writing for Bloomberg View, cites one of Faculty Associate John Haltiwanger's recent papers in an essay on "Struggling with Economic Rot." He points out that recent research pointing out trends of slow productivity growth and declining labor force participation "do not explain the 2000s, when these negative trends were getting started despite a healthy economy."

Smith quotes a paper by Haltiwanger, Ryan Decker, Ron Jarmin, and Javier Miranda :

"The evidence suggests that in High Tech, high-growth young firms play an especially critical role in job creation and productivity growth...However, since 2000 the High Tech sector and publicly traded firms have exhibited a decline in dynamism. The number of IPOs has fallen in the post-2000 period, and those that have entered have not exhibited the same rapid growth as earlier cohorts."

See the Bloomberg opinion piece

See the paper by Haltiwanger, et al.