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"In this paper we develop an empirical model of entrepreneurs' business continuation decisions, and we estimate its parameters using a new panel of monthly alcohol tax returns from bars in the state of Texas. In our data, entrepreneurial failure is frequent and predictable. In the first year of...
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. This is the case whether we measure producers' sizes with their average sales or average employment. Thus, our results …
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"We calibrate a model of labor demand to infer the employment responseto a change in the minimum wage in the food away … employment in response to a 10 percent minimum wage change. We then introduce monopsony power in local la- bor markets. We … consumers in the form of higher prices. Whereas the competitive model implies that employment falls and prices rise in response …
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"This paper proposes a methodology for estimating job search models that does not require either functional form assumptions or ruling out the presence of unobserved variation in worker ability. In particular, building on existing results from record- value theory, a branch of statistics that...
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