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Entrepreneurship Over The Business Cycle

  • Yu, Li
  • Orazem, Peter
  • Jolly, Robert W.

The fraction self-employed rises in recessions because wage work is more sensitivethan self-employment to the business cycle, not because of necessityentrepreneurship. Graduating during a recession reduces the probability of starting a business forthe next 11 years.

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File URL: http://www.econ.iastate.edu/sites/default/files/publications/papers/p16672-2013-10-28.pdf
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Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 36672.

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Date of creation: 27 Oct 2013
Date of revision:
Publication status: Published in Economics Letters, February 2014, vol. 122 no. 2, pp. 105-110
Handle: RePEc:isu:genres:36672
Contact details of provider: Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
Web page: http://www.econ.iastate.edu
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  1. Marco Cagetti & Mariacristina De Nardi, 2003. "Entrepreneurship, frictions and wealth," Working Papers 620, Federal Reserve Bank of Minneapolis.
  2. repec:cup:cbooks:9780521899604 is not listed on IDEAS
  3. Fairlie, Robert W, 1999. "The Absence of the African-American Owned Business: An Analysis of the Dynamics of Self-Employment," Journal of Labor Economics, University of Chicago Press, vol. 17(1), pages 80-108, January.
  4. Kahn, Lisa B., 2010. "The long-term labor market consequences of graduating from college in a bad economy," Labour Economics, Elsevier, vol. 17(2), pages 303-316, April.
  5. Sandra E. Black & Philip E. Strahan, 2002. "Entrepreneurship and Bank Credit Availability," Journal of Finance, American Finance Association, vol. 57(6), pages 2807-2833, December.
  6. Evans, David S & Leighton, Linda S, 1989. "Some Empirical Aspects of Entrepreneurship," American Economic Review, American Economic Association, vol. 79(3), pages 519-35, June.
  7. Robert W. Fairlie, 2013. "Entrepreneurship, Economic Conditions, and the Great Recession," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 22(2), pages 207-231, 06.
  8. Douglas Holtz-Eakin & David Joulfaian & Harvey S. Rosen, 1993. "Sticking it Out: Entrepreneurial Survival and Liquidity Constraints," NBER Working Papers 4494, National Bureau of Economic Research, Inc.
  9. Barton H. Hamilton, 2000. "Does Entrepreneurship Pay? An Empirical Analysis of the Returns to Self-Employment," Journal of Political Economy, University of Chicago Press, vol. 108(3), pages 604-631, June.
  10. David G. Blanchflower, 2000. "Self-Employment in OECD Countries," NBER Working Papers 7486, National Bureau of Economic Research, Inc.
  11. Fairlie, Robert W. & Robb, Alicia, 2004. "Families, Human Capital, and Small Business: Evidence from the Characteristics of Business Owners Survey," IZA Discussion Papers 1296, Institute for the Study of Labor (IZA).
  12. Michael Hout & Harvey Rosen, 2000. "Self-Employment, Family Background, and Race," Journal of Human Resources, University of Wisconsin Press, vol. 35(4), pages 670-692.
  13. Mattila, J. Peter & Orazem, Peter, 1991. "Human Capital, Uncertain Wage Distributions, and Educational and Occupational Choices," Staff General Research Papers 10841, Iowa State University, Department of Economics.
  14. repec:cup:cbooks:9780521728355 is not listed on IDEAS
  15. Shane, Scott, 2011. "The Great Recession’s effect on entrepreneurship," Economic Commentary, Federal Reserve Bank of Cleveland, issue Mar.
  16. Orazem, Peter F & Mattila, J Peter, 1991. "Human Capital, Uncertain Wage Distributions, and Occupational and Educational Choices," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 32(1), pages 103-22, February.
  17. Robert W. Fairlie & Bruce D. Meyer, 2000. "Trends in Self-Employment among White and Black Men during the Twentieth Century," Journal of Human Resources, University of Wisconsin Press, vol. 35(4), pages 643-669.
  18. Blanchflower, David G & Oswald, Andrew J, 1998. "What Makes an Entrepreneur?," Journal of Labor Economics, University of Chicago Press, vol. 16(1), pages 26-60, January.
  19. Constant, Amelie & Zimmermann, Klaus F, 2004. "Self-Employment Dynamics Across the Business Cycle: Migrants vs Natives," CEPR Discussion Papers 4754, C.E.P.R. Discussion Papers.
  20. Philip Oreopoulos & Till von Wachter & Andrew Heisz, 2012. "The Short- and Long-Term Career Effects of Graduating in a Recession," American Economic Journal: Applied Economics, American Economic Association, vol. 4(1), pages 1-29, January.
  21. Rampini, Adriano A., 2004. "Entrepreneurial activity, risk, and the business cycle," Journal of Monetary Economics, Elsevier, vol. 51(3), pages 555-573, April.
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