TY  - JOUR
A1  - Fritsch, Michael
A1  - Kritikos, Alexander
A1  - Pijnenburg, Katharina
T1  - Business cycles, unemployment and entrepreneurial entry-evidence from Germany
JF  - International entrepreneurship and management journal
N2  - We investigate whether people are more willing to become self-employed during boom periods or during recessions and to what extent business cycles and unemployment levels influence entries into entrepreneurship. Our analysis for Germany reveals that there is a positive relationship between unemployment rates and start-up activities. Moreover, new business formation is higher during recessions than in boom periods, implying that it is counter-cyclical. When disentangling periods of low and high unemployment we find that the effect of unemployment on new business formation is only statistically significant if the level of unemployment is below the trend, indicating a "low unemployment retain effect".
KW  - Self-employment
KW  - Business cycle
KW  - Unemployment
KW  - Start-up
Y1  - 2015
U6  - https://doi.org/10.1007/s11365-014-0326-3
SN  - 1554-7191
SN  - 1555-1938
VL  - 11
IS  - 2
SP  - 267
EP  - 286
PB  - Springer
CY  - New York
ER  -