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Entrepreneurship, College and Credit: The Golden Triangle

Author

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  • Roberto M Samaniego

    (The George Washington University)

  • Juliana Yu Sun

    (School of Economics, Singapore Management University)

Abstract

We develop a model to evaluate the impact of college education finance on welfare, inequality and aggregate outcomes. Our model captures the stylized fact that entrepreneurs with college are more common and more profitable. Our calibration to US data suggests this is mainly because higher labor earnings allow college educated agents to ameliorate credit constraints when they become entrepreneurs. The welfare benefits of subsidizing education are greater than those of eliminating financing constraints on education because subsidies ameliorate the impact of financing constraints on would-be entrepreneurs.

Suggested Citation

  • Roberto M Samaniego & Juliana Yu Sun, 2016. "Entrepreneurship, College and Credit: The Golden Triangle," Economics and Statistics Working Papers 8-2016, Singapore Management University, School of Economics.
    • Handle: RePEc:ris:smuesw:2016_008
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    2. Naijia Guo & Charles Ka Yui Leung, 2021. "Do elite colleges matter? The impact on entrepreneurship decisions and career dynamics," Quantitative Economics, Econometric Society, vol. 12(4), pages 1347-1397, November.

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