THURSDAY, JUNE 21ST, 2018
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PRESENTATION OUTLINE
- Why declining business dynamism matters: Slowing productivity growth
- Nine indicators of declining business dynamism
- 1) declining rates of job creation and destruction
- 2) declining rates of job churn and geographic mobility
- 3) declining rates of company start-ups and firm turnover
- 4) declining number of total firms and (especially) listed firms
- 5) growing age and size of typical firm
- 6) declining turnover/turbulence in S&P 100 giants
- 7) weakening firm response to productivity gaps
- 8) rising market concentration
- 9) a widening divide between winners and losers
- Possible causes of decline
- Implications for policy and for market performance
