We review the extensive literature since 2000 on the personality traits of entrepreneurs. We
first consider baseline personality traits like the Big-5 model, self-efficacy and …

This survey paper synthesizes theory and evidence on processes of firm-level aging. We
discuss why anthropomorphic analogies are not helpful for understanding firm aging …

American markets, once a model for the world, are giving up on competition. Thomas
Philippon blames the unchecked efforts of corporate lobbyists. Instead of earning profits by …

We review the evidence that artificial intelligence (AI) is having a large effect on the
economy. Across a variety of statistics—including robotics shipments, AI start-ups, and …

We introduce a new survey module intended to complement and expand research on the
causes and consequences of advanced technology adoption. The 2018 Annual Business …

We attempt to understand potential common forces behind rising market concentration and a
slowdown in business dynamism in the US economy, through a micro-founded general …

This paper offers a unified explanation for the slowdown of productivity growth, the decline in
business dynamism, and the rise of market power. Using a quantitative framework, I show …

The US business sector has under-invested relative to Tobin's Q since the early 2000's. We
argue that declining competition is partly responsible for this phenomenon. We use a …

Aggregate US bank lending to firms expands following several adverse macroeconomic
shocks, such as the outbreak of COVID-19 or a monetary policy tightening. Using loan-level …

Growth has fallen in the US amid a rise in firm concentration. Market share has shifted to low
labour share firms, while within-firm labour shares have actually risen. We propose a theory …