The “shadow” or “internal” wage plays a crucial role, via the “internal wage effect,” in models of agricultural households with absent or constrained off-farm wage employment. To verify its empirical relevance, parameters of the production and welfare functions are estimated for...

The quick recovery of Asian economies from recent recessions in comparison to the struggling American and European economies can be attributed in part to the positive aggregate-demand externalities of their self-employment sectors. This book presents a behavioural analysis of this effect, with a...