| 說明 |
117 p |
| 附註 |
Source: Dissertation Abstracts International, Volume: 65-03, Section: A, page: 1035 |
|
Adviser: Robert Townsend |
|
Thesis (Ph.D.)--The University of Chicago, 2004 |
|
The first chapter studies the interaction between individuals' savings and the decision to become an entrepreneur in a multi-period model with borrowing constraints. Able individuals who start with wealth above a threshold purposely save to become entrepreneurs, while those who start below this threshold fall into a 'poverty trap' and remain wage earners forever. Using the model and evidence from US data the importance of poverty traps and the welfare cost of borrowing constraints are found to be significant. For example, individuals that could earn up to 18% more as entrepreneurs remain workers if they start with zero wealth. The model generates a well-defined transition of individuals from wage earners to entrepreneurs---a major focus of recent empirical work. Although the probability of becoming an entrepreneur as a function of wealth is increasing for low wealth levels---as predicted by standard static models---it is decreasing for higher wealth levels. The predictions about saving rates, consumption growth and the transition into entrepreneurship are compared with US data and limited support is found for the model |
|
The second chapter studies identification and testable implications of occupational choice models. The results in literature are generalized in three directions. First, the model in the paper allows fully general functions characterizing the income of different occupations. Second, the model can be identified using strictly weaker exclusion restrictions. Third, testable implications of a general occupational choice model are derived. The analysis draws on results on the existence and uniqueness of solutions to systems of partial differential equations. The methodology developed is used to study the identification of a model of entrepreneurial choice with borrowing constraints |
|
School code: 0330 |
|
DDC |
| Host Item |
Dissertation Abstracts International 65-03A
|
| 主題 |
Economics, General
|
|
Economics, Labor
|
|
Economics, Theory
|
|
0501
|
|
0510
|
|
0511
|
| Alt Author |
The University of Chicago
|
|
