Entry, Exit, Firm Dynamics, and Aggregate Fluctuations

We are grateful to Dave Backus, Rudi Bachman, Susanto Basu, Russel Cooper, Jason Faberman, Shigeru Fujita, Ramon Marimon, Gianluca Violante, and Stan Zin, as well seminar attendants at Boston College, Boston University, European University Institute, Richmond Fed, New York University, University of Southern California, University of Texas at Austin, University of Virginia, University of Western Ontario, SED meeting, Canadian Macroeconomics Study Group, CREI-MOVE Workshop on Misallocation and Productivity, Greenline Macroeconomics Meeting, NY/Philly Macroeconomics Workshop, and Workshop on Macroeconomic Dynamics for their comments and suggestions. All remaining errors are our own responsibility. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.