focus of the paper is on transitional dynamics under different initial wealth levels. Whether an initially small business … toward the informal sector even though the initial wealth level is high. Lowering taxes on formal activity joined with strict …

. This paper studies the role of endogenous owner hours in shaping the wealth distribution among entrepreneurs. We introduce … levels and the dispersion of wealth among entrepreneurs. Long owner hours incentivize poor, highly productive individuals to … be owners and help the most productive owners to accumulate large quantities of wealth. On net, owners working long hours …

entrepreneurs in an economy. We develop a dynamic occupational choice model with endogenous wealth and entry into entrepreneurship … wealth profile for the fraction of workers in entrepreneurship, start-up costs weaken this relationship by depressing the …We study the effects of liquidity constraints and start-up costs on the relationship between wealth and the fraction of …

We examine the origins and outcome of entrepreneurship on the basis of exceptionally comprehensive Norwegian matched … worker-firm-owner data. In contrast to most existing studies, our notion of entrepreneurship not only comprises self …-employment, but also employment in partly self-owned limited liability firms. Based on this extended entrepreneurship concept, we find …

household income.Based on individual-level data from the KfW Start-up Monitor, a large-scale survey on entrepreneurship in …