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In the wake of rapid banking consolidations in the USA, concerns have arisen about the accessibility of capital and financial services for new businesses. With fewer and more centralized banking options, the likelihood of these entities securing financing may be compromised. This study aims to explore the repercussions of this consolidation on entrepreneurial activities in the U.S. Midwest.

To measure entrepreneurship, this study examines various business application metrics: total applications, high-propensity business applications (i.e. those with a high likelihood of evolving into businesses with payrolls), business applications from corporations (applications stemming from corporations or personal service entities) and applications with planned wages (those indicating a forthcoming payroll date). To assess the banking sector’s consolidation, this study used the deposit-based Herfindahl–Hirschman Index (HHI), a well-known measure of banking concentration.

This research underscores the detrimental impact of banking consolidation on various new business formations. To illustrate, a one standard deviation surge in the HHI, roughly 1253 points, correlates with a decline of approximately 16 total business applications, 7.3 high-propensity business applications, 3.72 applications originating from corporations and 3 applications indicating planned wages – all per 10,000 individuals. The findings indicate that reduced banking competition could slow down new business formations and negatively affect entrepreneurship.

This study examines various business formation statistics and use deposits at the institution level to determine banking concentration.

The authors aim to analyze the inequality in accessing distance learning during COVID-19 school closures.

The authors use the Household Pulse Survey, which is an effort by the United States (US) government to measure the well-being of American families during the COVID-19 pandemic. The authors employ a regression analysis to estimate the inequality in accessing distance learning by race and household income.

Disadvantaged children from nonwhite and low-income families have much less access to distance learning, including less access to online classes, digital devices and the Internet. Schools are critical providers of the Internet and digital devices to children from disadvantaged households. Schools and parents devote more attention to these nonwhite children by spending extra time on their learning activities.

This paper estimates the inequality in accessing distance learning during the COVID-19 crisis. Also, the authors analyze the responses of schools and parents toward this inequality.

This paper examines disemployment effects of minimum wages during the period 2002–2010.

The authors employ the discontinuity design.

The authors find that minimum wages had a significant negative impact on teen employment before the Great Recession. During the Great Recession, the disemployment effects of minimum wages were insignificant. The finding is consistent with the evolution of firms’ market power during the business cycle.

The authors attempt to reconcile the debate about the effects of minimum wages on US employment.