least a third of their relationship in the data. Labor market frictions reduce output not only by affecting employment, but …

: the entrepreneurship rate and the fraction of small firms fall with per capita income across countries, while average firm …'s potential payoffs in working and in entrepreneurship. If some firms consistently benefit more from technological progress than …

separation hazards by job duration, separately for all 37 countries with available data. Quantitative analysis of the model shows …

a positive relationship between an individual’s potential payoffs in working and in entrepreneurship. If some firms … consequence, the entrepreneurship rate falls with income per capita, average firm size and firm size dispersion increase with … income per capita, and "entrepreneurship out of necessity" falls with income per capita. The paper also documents, for two of …

a positive relationship between an individual's potential payoffs in working and in entrepreneurship. If some firms … consequence, the entrepreneurship rate falls with income per capita, average firm size and firm size dispersion increase with … income per capita, and entrepreneurship out of necessity falls with income per capita. The paper also documents, for two of …

start, the paper briefly documents evidence from the empirical literature that the relationship between entrepreneurship and … persist in the market, and that returns to entrepreneurship have a much larger cross-sectional variance than returns to wage … entrepreneurship where agents are heterogeneous in their ability as workers, and starting entrepreneurs face uncertainty about their …