John Haltiwanger

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Analysis and Commentary

Housing Market And Bank Lending Effects On Young Firms And Local Economies

by Steven J. Davis, John Haltiwangervia VoxEu.org (Centre for Economic Policy Research)
Sunday, May 5, 2019

Young firms live a financially precarious life, often dependent on self-funding tied to the value of the business owners’ homes. This column uses data from the US to show that housing market fluctuations play a major role in driving medium-term changes in young firm employment shares. As young firms hire a disproportionate number of younger and less-educated workers, these groups are disproportionately affected by house price fluctuations.

Dynamism Diminished: The Role of Housing Markets and Credit Conditions

by Steven J. Davis, John Haltiwangervia Economics Working Papers
Thursday, January 10, 2019

Economics Working Paper 19102