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We combine two empirical observations in a general equilibrium occupational choice model. The first is that entrepreneurs have more control than employees over the employment of and accruals from assets, such as human capital. The second observation is that entrepreneurs enjoy higher returns to...
Persistent link: https://www.econbiz.de/10011378332
entrepreneurship to farming. The education effect that separates workers into self-employment and wage employment is stronger for women …
Persistent link: https://www.econbiz.de/10011333877
How valuable is education for entrepreneurs’ performance as compared to employees’? What might explain any differences …? And does education affect peoples’ occupational choices accordingly? We answer these questions based on a large panel of … US labor force participants. We show that education affects peoples’ decisions to become an entrepreneur negatively. We …
Persistent link: https://www.econbiz.de/10011379475
satisfaction. We use subjective survey information about job satisfaction and the fit between the migrant's education and skill …
Persistent link: https://www.econbiz.de/10010433898
Persistent link: https://www.econbiz.de/10010191009
We model entrepreneurship and the emergence of firms as a result of simultaneous bidding for labor services among heterogeneousagents. Unique to our approach is that occupational choices, jobmatching and organizational forms are determined simultaneously, sothat the opportunity costs of...
Persistent link: https://www.econbiz.de/10011377467
Education is argued to be an important driver of the decision to start a business. The measurement of its influence … US. Theeffect of education on the decision to become self-employed is found to be strongly positive,much higher than the … estimated effect in case no instrumental variables are used. That is, thehigher the respondent's level of education, the greater …
Persistent link: https://www.econbiz.de/10011379198
Persistent link: https://www.econbiz.de/10009720700
Estimates of the effect of education on GDP (the social return) have been hard to reconcile with micro evidence on the … of education reduces the private return by 2 percentage points, consistent with Katz-Murphy's (1992) elasticity of …
Persistent link: https://www.econbiz.de/10011325967
We present a theory of human capital, with its two most essential components, health capital and, what we term, skill capital, endogenously determined within the model. Using the theory, and a calibrated version of it, we uncover and highlight an important economic mechanism driving...
Persistent link: https://www.econbiz.de/10013172987