the importance of skills for the entrepreneurs who employ those workers, and in particular on their evolution over time …, heterogeneous firm model à la Lucas (1978): technological change does not benefit all potential entrepreneurs equally, and there is …. Because wages rise for all workers, low-productivity entrepreneurs will then at some point exit and become workers. As a …

entrepreneurs facing uninsurable idiosyncratic risks. Under greater wealth concentration, households in the lower end of the wealth … heterogeneous risk averse entrepreneurs competing to catch up with firms. This model is unique in that both household wealth …