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We develop a new perspective on the boundary of the firm that is consistent with the empirical observation that the share of entrepreneurs first decreases and then increases in the course of economic development. Existing theory based on transaction costs is difficult to relate to these...
Persistent link: https://www.econbiz.de/10011255927
This paper revisits the two-equation model of Carree, van Stel, Thurik and Wennekers (2002) where deviations from the ‘equilibrium’ rate of business ownership play a central role determining both the growth of business ownership and that of economic development. Two extensions of the...
Persistent link: https://www.econbiz.de/10011256128
claim that entrepreneurship has important economic value. Hence, a systematic review is provided that answers the question … group’? A fourth type of contribution studied is the role of entrepreneurship in increasing individuals’ utility levels …
Persistent link: https://www.econbiz.de/10011257287
>entrepreneurial economy</I>. In particular, the empirical evidence provides consistent support that (1) the role of entrepreneurship has … may be that the current approach to entrepreneurship policy is misguided. The priority should not be on entrepreneurship …
Persistent link: https://www.econbiz.de/10011257351
knowledge based entrepreneurial activity. Second, knowledge based entrepreneurship positively affects regional economic … particular, our results suggest that innovation efforts have an indirect effect on economic performance via entrepreneurship …
Persistent link: https://www.econbiz.de/10011257436
We study the effects of the reform of the system of severance payments (TFR) of Italian employees on the cost and the access to credit for small and medium-size enterprises (SMEs). The most direct consequence of the reform is to reduce in the long run the amount of liquid assets available to...
Persistent link: https://www.econbiz.de/10011255902
We investigate the cyclicality of the private savings to GDP ratio for a panel of 19 OECD countries over the period 1971-2009. We find robust evidence that the private savings ratio is countercyclical. Three theories unambiguously predict a higher private savings ratio during recessions: a...
Persistent link: https://www.econbiz.de/10011256485
We study optimal linear income taxation in a model with heterogeneous agents where earnings potentials are endogenously determined through human capital accumulation. Agents differ in initial conditions and ability to learn. Capital market imperfections prevent poor agents to invest optimally in...
Persistent link: https://www.econbiz.de/10011257273
We analyze the distribution of economic activity across space for different types of activity and different levels of … aggregation. Not only is this distribution highly uneven (independently of the type of activity and level of aggregation), it is … also remarkably regular regarding its size distribution (rank-size rule or Zipf’s Law) and regarding its interaction …
Persistent link: https://www.econbiz.de/10011255956
In this paper we analyse the market integration process of the relative price distribution, develop a model to analyze … distribution. We present concepts and definitions related to the market integration process, link this to price convergence in … distribution, argue that the Law of One Price (LOP) is not a sufficient condition for market integration, and present a formal test …
Persistent link: https://www.econbiz.de/10011255992