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Credit crunches and credit allocation in a model of entrepreneurship
Bassetto, Marco; Cagetti, Marco; De Nardi, Mariacristina - In: Review of economic dynamics 18 (2015) 1, pp. 53-76
Persistent link: https://www.econbiz.de/10011564083
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Credit Crunches and Credit Allocation in a Model of Entrepreneurship
Bassetto, Marco; Cagetti, Marco; Nardi, Mariacristina De - In: Review of Economic Dynamics 18 (2015) 1, pp. 53-76
We study the effects of credit shocks in a model with heterogeneous entrepreneurs, financing constraints, and a realistic firm-size distribution. As entrepreneurial firms can grow only slowly and rely heavily on retained earnings to expand the size of their business, we show that, by reducing...
Persistent link: https://www.econbiz.de/10011160658
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Financing constraints, home equity and selection into entrepreneurship
Jensen, Thais Lærkholm; Leth-Petersen, Søren; Nanda, … - 2021
Persistent link: https://www.econbiz.de/10012584133
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Precautionary savings and the importance of business owners
Hurst, Erik; Kennickell, Arthur; Lusardi, Annamaria; … - 2006
In this paper, we show the pivotal role business owners play in estimating the importance of the precautionary saving motive. The fact that business owners hold higher-than-average wealth while facing higher income risk than other households leads to a correlation between wealth and labor income...
Persistent link: https://www.econbiz.de/10010298330
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Financing Constraints, Home Equity and Selection into Entrepreneurship
Jensen, Thais Laerkholm; Leth-Petersen, Søren; Nanda, … - 2021
impacted selection into entrepreneurship. We find that increased entry was concentrated among entrepreneurs whose firms were …
Persistent link: https://www.econbiz.de/10013202284
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Precautionary savings and the importance of business owners
Hurst, Erik; Kennickell, Arthur; Lusardi, Annamaria; … - Center for Financial Studies - 2006
In this paper, we show the pivotal role business owners play in estimating the importance of the precautionary saving motive. The fact that business owners hold higher-than-average wealth while facing higher income risk than other households leads to a correlation between wealth and labor income...
Persistent link: https://www.econbiz.de/10010958779
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Precautionary Savings and the Importance of Business Owners
Hurst, Erik; Kennickell, Arthur; Lusardi, Annamaria; … - Center for Financial Studies - 2006
In this paper, we show the pivotal role business owners play in estimating the importance of the precautionary saving motive. The fact that business owners hold higher-than-average wealth while facing higher income risk than other households leads to a correlation between wealth and labor income...
Persistent link: https://www.econbiz.de/10005138851
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Household wealth and entrepreneurship: is there a link?
Magri, Silvia - Banca d'Italia - 2009
In the absence of any correlation between wealth and entrepreneurial talent, initial net wealth should have an explanatory power in the decision to become an entrepreneur only for households that are financially constrained; further, its importance should decrease with wealth. I test these...
Persistent link: https://www.econbiz.de/10005011989
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Housing Collateral, Credit Constraints and Entrepreneurship - Evidence from a Mortgage Reform
Laerkholm Jensen, Thais; Leth-Petersen, Søren; Nanda, … - C.E.P.R. Discussion Papers - 2014
We study how a mortgage reform that exogenously increased access to credit had an impact on entrepreneurship, using … point increase in entrepreneurship, equivalent to a 4% increase in the number of entrepreneurs. New entrants were more … benefit from the reform. Our results provide evidence that credit constraints do affect entrepreneurship, but that the overall …
Persistent link: https://www.econbiz.de/10011084236
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The degree of judicial enforcement and credit markets: Evidence from Japanese household panel data
Horioka, Charles Yuji; Sekita, Shizuka - 2009
In this paper, we conduct an empirical analysis of the impact of better judicial enforcement on the probability of being credit rationed, loan size, and the probability of bankruptcy using household-level data from the Japanese Panel Survey of Consumers, conducted by the Institute for Research...
Persistent link: https://www.econbiz.de/10010332377