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  4. Slava Mikhed on entrepreneurship and age

January 27, 2026

Slava Mikhed on entrepreneurship and age

How do younger and older entrepreneurs respond to extra wealth?

Slava Mikhed is a Senior Advisor and Research Fellow at the Federal Reserve Bank of Philadelphia. He sat down for an interview at the 2026 AEA poster session to talk about the impact of extra wealth on younger and older entrepreneurs. He found that wealth shocks led older entrepreneurs to reduce high-quality business activity and younger individuals to increase low-quality business activity.

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Entrepreneurs' Age, Wealth and Succession

A large literature shows that entrepreneurial activity is driving economic growth and job creation. Examining the interaction of wealth and age on entrepreneurship is important because the population is aging in many countries, with ever larger fractions of the population reaching advanced age. In addition, on average, wealth is concentrated . . .

More videos like this . . .

The AEA interviewed select poster presenters at the 2026 conference in Philadelphia to discuss their research and the broader implications of their work. View the full list of videos.