opportunities in the wage/salary sectorleaving the net effect on entrepreneurship ambiguous. The most up-to-date microdataavailable … entrepreneurship at the individual level to shed lighton this question. Regression estimates indicate that local labor market … conditions are a majordeterminant of entrepreneurship. Higher local unemployment rates are found to increase theprobability that …

entrepreneurship versus wage employment, thereby accounting for selectivity intoentrepreneurial positions based on fixed individual …