This paper attempts to estimate the role played by three key variables--expected earnings, the desire for independence, and the ability to find paid employment--on the paid employee/self-employment decision using a simple three-stage utility maximization model. The empirical results suggest that...

This paper develops and estimates an equilibrium condition relating to the modern t heory of forward exchange. The author uses high-quality, overlapping, weekly data for dollar-franc and dollar-sterling exchange and intere st rates, and utilizes a generalized method of moments estimator to y...