Joonkyu Choi

Economist at the Federal Reserve Board. Views are my own.

[The Review of Economics and Statistics (REStat) @restatjournal]

Initial teams at a startup, not just founders, play a critical role in the success of young firms. In the November issue, by Joonkyu Choi @choijk85 Nathan Goldschlag @ngoldschlag John Haltiwanger @JHaltiwanger_UM and J. Daniel Kim @jdanielkim https://t.co/EEuztHclWm

[Nathan Goldschlag @ngoldschlag]

📢New data and working paper!📢
Business dynamics of high-growth firms, 44 new tables of BDS stats by firm growth rates with the stock and flow of firms, establishments, and employment covering over 4 decades. @JHaltiwanger_UM @choijk85 @jdanielkim https://t.co/2jiFe6XfwI

[Joonkyu Choi @choijk85]

@jeremygpearce @NewYorkFed Congrats!

[Mircea Epure @mircea_epure]

📢 Join us for the Barcelona GSE Summer Forum on #Entrepreneurship on June 10. We have an excellent line-up of six paper presentations and a keynote by the great @petergklein

Please register at: https://t.co/Tg8bmYBcFH
See you all on June 10!

[Ron Jarmin @jarmin_ron]

The NBER-CES (@uscensusbureau ) Manufacturing Industry Database that is.

[Nathan Goldschlag @ngoldschlag]

New experimental data on robotics from the Annual Survey of Manufacturers. Tables by industry, state, and plant size groups.

In the US, about 9.5% of plants have robotics present, which account for 28.3% of employment.

cc: @CathyBuffington @jmirandal
https://t.co/MpxhpKeDby

[NBER @nberpubs]

Loss of a founder has an especially large adverse effect, but the loss of an early joiner also exerts a significant negative effect, from Joonkyu Choi, Nathan Goldschlag, @JHaltiwanger_UM, and @jdanielkim https://t.co/eGCq5RhvTH

[John Haltiwanger @JHaltiwanger_UM]

The surge in new business applications for likely employers continues to surge through week 40 (through October 3). Chatting about this on CNBC earlier today contrasting the patterns with the Great Recession and what might account for this surge. https://t.co/r2Swx6QeXs

[John Haltiwanger @JHaltiwanger_UM]

Newly released BDS through 2018 shows declining pace of business dynamism (job reallocation) becomes pervasive after 2000.

[Joonkyu Choi @choijk85]

Have been waiting this for a long time. A lot of new empirical work can be done with this new release!

[Nathan Goldschlag @ngoldschlag]

New & improved BDS data are live! Running thru 2018, this is the result of years of hard work by a big team at Census. We combined the best of the BDS and SUSB emp change tables, meaning more geo and industry detail, long time series, and firm age data. https://t.co/inzm8wvZsj

[John Haltiwanger @JHaltiwanger_UM]

After decline in March and April, new business applications surging. For likely nonemployers, cumulative applications through week 34 are higher than any other year from 2006-20. For likely employers, cumulative applications through week 34 higher than any year since 2007.

[Joonkyu Choi @choijk85]

Check out our new working paper. Founding teams play an important role in young firm dynamics. Guess what — even the non-key members (who are not founders) are crucial and not easily substitutable with outsiders in the labor market!

[Nathan Goldschlag @ngoldschlag]

🧵In this paper we provide causal evidence that founding team members, people there on day one, are important for startup performance. While the lit tends to focus on startup founders, we broaden this lens to founding teams (FT), inclusive of both founders and initial employees.

[Chicago Booth Review @chicagoboothrev]

New: Purely evidence-based policy doesn’t exist, by Lars Peter Hansen (@UncertainLars) https://t.co/ZPVyOxgUXM