We study the effects of liquidity constraints and start-up costs on the relationship between wealth and the fraction of … function of individual wealth while the introduction of start-up costs tends to flatten this relationship. The theoretical … business start-up costs. We use three highly comparable micro datasets (SHARE, ELSA and HRS) providing harmonized data on …

macroeconomic volatilities. In our subsequent empirical estimations, we find that higher labor turnover costs have a statistically …

We study the effects of liquidity constraints and start-up costs on the relationship betweenwealth and the fraction of …