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Social Capital and the Uncertainty Reduction of Self-Employment

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  • Boris F. Blumberg
  • Gerard A. Pfann

Abstract

We study the self-employed decision and its relation to human and social capital. Human capital is necessary to acquire skills. Social capital dampens the effects of uncertainty about future income. Our data set consists of 1339 respondents from the same age group, who were interviewed three times in life in 1957, 1983 and 1993. The self-employment probability equals 0.155 and peaks between ages 24 and 26. Duration analysis shows that social capital is the most important resource for self-employment.

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Bibliographic Info

Paper provided by Harris School of Public Policy Studies, University of Chicago in its series Working Papers with number 0112.

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Date of creation: Apr 2001
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Handle: RePEc:har:wpaper:0112

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Keywords: self-employment; social capital; human capital;

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  17. Dunn, Thomas & Holtz-Eakin, Douglas, 2000. "Financial Capital, Human Capital, and the Transition to Self-Employment: Evidence from Intergenerational Links," Journal of Labor Economics, University of Chicago Press, vol. 18(2), pages 282-305, April.
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Cited by:
  1. Markus Kinateder, 2009. "Team Formation in a Network," Working Papers 2009.36, Fondazione Eni Enrico Mattei.
  2. Claudio Michelacci & Olmo Silva, 2005. "Why So Many Local Entrepreneurs?," Working Papers wp2005_0506, CEMFI.

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