Entrepreneurship, Economic Risks, and Risk Insurance in the Welfare State: Results with OECD Data 1978±93
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Pekka Ilmakunnas
Abstract
We find evidence in the OECD cross-country data to support the Knightian view that non-diversifiable economic risks shape equilibrium entrepreneurship in an occupational choice model. Differential social insurance of entrepreneurial and labor risk is found to be statistically significant and detrimental to entrepreneurship. The crowding-out effect of public production of private goods on entrepreneurship dominates the crowding-in effect of public production of public goods in the OECD data. Weak evidence is found for the proposition that the rate of entrepreneurship is related to the degree of income inequality and to the union power in the economy. The results also suggest that in countries with low GDP per capita ratio, self-employment is high.
© 2019 by Walter de Gruyter Berlin/Boston
Artikel in diesem Heft
- Entrepreneurship, Economic Risks, and Risk Insurance in the Welfare State: Results with OECD Data 1978±93
- Some Thoughts on Monetary Targeting vs. Inflation Targeting
- On the Interaction of Risk and Time Preferences: An Experimental Study
- The Dynamics of a Simple Relative Adjustment Cost Framework
- On Corporate Tax Asymmetries and Neutrality
- Efficiency-Wage Unemployment and Intersectoral Wage Differentials in a Heckscher- Ohlin Model
- How the P* Model Rationalizes Monetary Targeting: A Comment on Svensson
- Response to Seitz and Tödter, `How the P* Model Rationalizes Monetary Targeting: A Comment on Svensson'
Artikel in diesem Heft
- Entrepreneurship, Economic Risks, and Risk Insurance in the Welfare State: Results with OECD Data 1978±93
- Some Thoughts on Monetary Targeting vs. Inflation Targeting
- On the Interaction of Risk and Time Preferences: An Experimental Study
- The Dynamics of a Simple Relative Adjustment Cost Framework
- On Corporate Tax Asymmetries and Neutrality
- Efficiency-Wage Unemployment and Intersectoral Wage Differentials in a Heckscher- Ohlin Model
- How the P* Model Rationalizes Monetary Targeting: A Comment on Svensson
- Response to Seitz and Tödter, `How the P* Model Rationalizes Monetary Targeting: A Comment on Svensson'
