Yoshiki Ando

Yoshiki Ando is a Postdoctoral Associate at the Technology & Policy Research Initiative, Boston University. His research focuses on innovation, firm dynamics, and financial frictions from macroeconomic perspectives. His working paper studies the role that venture capital plays in helping promising startups achieve high growth. It develops a firm dynamics model with endogenous firm productivity and the choice of financing based on micro-level evidence obtained from administrative US Census data. The quantitative model explains the substantial growth of VC-backed firms as a result of endogenous sorting, equity-based funding, and managerial advice. He also studies the adoption of advanced technologies, such as AI and robotics, and a neoclassical growth model with limited commitment constraints and aggregate risk. For more information, see his personal website [www.yoshikiando.com].