We cast entrepreneurship as one of three career choices – remaining with one's employer, changing employers, or … engaging in entrepreneurship – and theorize how the likelihood of entrepreneurship evolves over one's career. We empirically … jobs. Despite detailed career history data and job displacement shocks that eliminate the current employer choice, we …

effects. A unique opportunity for this identification arises from a rule of promotion of local politicians based on age … requirements in China. This paper finds that Chinese cities whose top officials were older than age 58 were 20 percent less likely …