کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
968072 931440 2006 18 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Financial constraints and entrepreneurial investment
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Financial constraints and entrepreneurial investment
چکیده انگلیسی

There is a well documented interdependence between the investment and saving decisions of entrepreneurial households. I study this interdependence in a dynamic, general equilibrium model with heterogeneous agents and occupational choice. The simulated economy replicates U.S. data on the distribution of wealth and income, and the shares of wealth and income for each occupation. The dominant incentive behind the high level of savings of business households is the desire to relax a wealth constraint in financing entrepreneurial projects in order to operate their firms at an optimal size. Because successful firms grow over time, entrepreneurs enter business despite lower initial earnings than they would receive in paid employment.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Monetary Economics - Volume 53, Issue 8, November 2006, Pages 2195–2212
نویسندگان
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