He goes on to write: “The authors do a great job at combining empirics and theory to explain an important fact about the world in an innovative and surprising way. The question the paper addresses is: Why is dynamism declining? [They] point to a factor which is widespread across the entire economy, declining labor force growth.”
Edit: April 4, 2019
Professor Hopenhayn’s paper was also featured in “Revisiting the Discourse on Dynamism,” a report by Patrick Harker, President and Chief Executive Office of the Federal Reserve Bank of Philadelphia.