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   "estimand": "Effect of the French PARE unemployment-insurance reform, which insured unemployed workers starting businesses, on industry-level firm creation, entrant quality, and employment of new and incumbent firms.",
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    "Absent the reform, industries with high and low sole-proprietorship shares would have followed parallel trends in firm creation and outcomes",
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    "claim": "The reform raised firm creation by about 14 pp in top- versus bottom-quartile treatment-intensity industries.",
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    "claim": "Postreform firms show no significant change in failure, hiring, or growth rates.",
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   {
    "claim": "Entrepreneurs' education is unchanged and their growth expectations rise slightly after the reform.",
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   {
    "claim": "Employment in small incumbents fell by 2.6 pp, roughly offsetting the direct job creation by new firms.",
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    "claim": "New entrants are more productive than the incumbents they crowd out.",
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   {
    "claim": "Reform benefits are about €350M against €100M in transfers, a net cost of about €10,000 per job.",
    "evidence_type": "none_stated",
    "evidence_ref": "Internet Appendix II (cost-benefit analysis)"
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