We study the effects of liquidity constraints and start-up costs on the relationship between wealth and the fraction of … function of individual wealth while the introduction of start-up costs tends to flatten this relationship. The theoretical … business start-up costs. We use three highly comparable micro datasets (SHARE, ELSA and HRS) providing harmonized data on …

We study the effects of liquidity constraints and start-up costs on the relationship between wealth and the fraction of … function of individual wealth while the introduction of start-up costs tends to flatten this relationship. The theoretical … business start-up costs. We use three highly comparable micro datasets (SHARE, ELSA, and HRS) providing harmonized data on …

We study the effects of liquidity constraints and start-up costs on the relationship between wealth and the fraction of … function of individual wealth while the introduction of start-up costs tends to flatten this relationship. The theoretical … business start-up costs. We use three highly comparable micro datasets (SHARE, ELSA and HRS) providing harmonized data on …

, Ireland, Netherlands, Norway, Spain, Sweden, Switzerland, UK; 3) a neutral role - Denmark and Italy; and 4) a negative impact … - Germany and Greece. We thus find that in most countries dispersion in earnings increases with educational levels and that …