This paper distinguishes two kinds of jobs in the process of business creation. One is the "employment job" offered by an employer to an employee through a contractual (paid) relationship. The other is the "entrepreneurial job" created by active business owners for themselves. Only a small...

Using a unique survey data of Chinese households, we study the impact of house price growth and house price risk on entrepreneurship. House price risk, measured as the sensitivity of house price growth to local GDP growth, negatively impacts the entrepreneurship of homeowners relative to...

This paper examines whether and how housing market prices affect entrepreneurship ac- tivities. To this end, we empirically test the hypothetical collateral channel, exploiting a large-scale household-level survey from China. We find that a higher growth rate of house prices is associated with a...

Using a dataset on career paths of elite U.S. engineers, including superstar entrepreneurs, we examine the effect of early career choices on long-run entrepreneurial outcomes. Exploiting exogenous variation in entry labor market conditions, driven by local financial sector growth, and comparing...

Education is argued to be an important driver of the decision to start a business. The measurement of its influence, however, is difficult since it is considered to be an endogenous variable. This study accounts for this endogeneity by using an instrumental variables approachand a data set of...