TY  - RPRT
        AU  - Kolko, Jed
AU  - Neumark, David
        TI  - Does Local Business Ownership Insulate Cities from Economic Shocks?
        PY  - 2009/Sep/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 4415
        UR  - https://www.iza.org/publications/dp4415
        AB  - We assess a prominent argument for local economic policies that favor locally-owned businesses – namely, that locally-owned firms are more likely to internalize the costs to the community of decisions to reduce employment and hence help to insulate cities from adverse economic shocks. We test this argument by examining how establishment-level employment responses to economic shocks are affected by establishment ownership. We find evidence  hat some types of local ownership do insulate regions from economic shocks, although the  clearest benefits do not come from small, independent businesses, but instead from corporate headquarters and, to a lesser extent, from small, locally-owned chains.
        KW  - employment shocks
KW  - employment stability
KW  - local ownership
        ER  -