We study the effects of credit shocks in a model with heterogeneous entrepreneurs, financing constraints, and a …

We disaggregate the self-employed into incorporated and unincorporated to distinguish between "entrepreneurs" and other … "illicit" tendencies as youths accounts for both entry into entrepreneurship and the comparative earnings of entrepreneurs. In … contrast to past research, we find that entrepreneurs earn more per hour and work more hours than their salaried and …

In a famous paper, Kenneth Sokoloff argued that the labor input of entrepreneurs was generally not included in the … entrepreneurs if it was economically relevant to do so, and therefore Sokoloff's imputation is not warranted for these census years …

where growth is driven by the innovative activity of entrepreneurs. Entrepreneurship is risky and requires investments that … hinges on risk tolerance and patience. Parents expecting their children to become entrepreneurs have an incentive to instill … entrepreneurs there are in a society hinges, in turn, on parental investments in children's patience and risk tolerance. There can …

justification for this pattern based on adverse selection that entrepreneurs face in credit markets. Individuals choose between … becoming entrepreneurs or workers and differ in their skill in both of these occupations. I find that endogenous cross …