type="main" <p>Several recent empirical papers show that unemployment benefits crowd out nascent entrepreneurs. In the present paper provide theoretical support in favour of this interesting result. Over fairly general preference patterns we obtain a measure of the opportunity cost of entrepreneurs...</p>

This essential volume reflects the continuing and enduring utility of general equilibrium as a framework of analyses. It attempts to reiterate that understanding broad and holistic consequence of economic events and policies go beyond partial equilibrium perspective. Cutting across areas of...