Entry Costs Rise with Growth

This project arose from a previous version with Albert Bollard entitled “Entry Costs Rise with Development.” We thank research assistants Nathaniel Barlow, Patrick Kiernan, Jack Mueller, and Sam Tarasewicz for their excellent work. We are grateful for helpful comments from our discussant Ariel Burstein and from seminar participants at Stanford, the Federal Reserve Bank of San Francisco, the Washington University, the Federal Reserve Bank of Philadelphia, SED Madison, the NBER Summer Institute, and the Federal Reserve Bank of St. Louis. Opinions and conclusions herein are those of the authors and do not necessarily represent the views of the Federal Reserve System, the Federal Reserve Bank of San Francisco, or the U.S. Census Bureau. This research was performed at a Federal Statistical Research Data Center under FSRDC Project 1440. All results have been reviewed by the U.S. Census Bureau to ensure that no confidential information is disclosed. The authors have no relevant or material financial interests that relate to the research in this paper. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.