worsened credit market conditions. In this paper, we construct a quantitative general equilibrium model of entrepreneurship to … market can still obtain secured credit. Therefore, they can run larger firms, which makes entrepreneurship more attractive …

into entrepreneurship, we use changes in entry regulation into skilled trades. Estimation results are consistent with the …

Theory suggests that new market entrants play a special role for the creation of new technological pathways required …

) specification, we find that a 10% increase in immigration increases native wages by 3%. However, as the number of immigrants and the … natives’ wages is still positive but much smaller, and natives’ wages are negatively related to the number of natives. To … understand this asymmetry and the positive impact of immigration on wages, we explore the link between immigration and the …