The well-documented positive correlation between income risk and wealth was interpreted as evidence for high amounts of precautionary wealth in various studies. However, the large estimates emerged from pooling non-entrepreneurs and entrepreneurs without controlling for heterogeneity. This paper...

I examine the consumption and labor decisions of self-employed households when a child goes to college using unique financial transactions data from the linked accounts of small businesses and their owners. Households respond to the increase in education spending by downsizing business...

The objective of this study is to investigate whether youth in households receiving remittances in Macedonia have a higher probability of establishing their own business. In addition, we investigated whether the effect of remittances on youth labour supply is homogenous across the genders and...