In the first chapter, I provide evidence that investment-specific technological change is a source of systematic risk. In contrast to neutral productivity shocks, the economy needs to invest to realize the benefits of innovations in investment technology. A positive shock to investment...

This thesis explores in three essays if, how, and why social relationships have a bearing on outcomes in the entrepreneurial process. The first essay attempts to determine which mechanism drives the children of business owners to expect to become and actually enter business ownership themselves....