This paper aims at investigating the determinants of self- employment within a structural model of discrete choice under uncertainty. The basic idea of our approach centres around Knight's (1921) famous view of entrepreneurs receiving risk-adjusted income that has to exceed the income of...

[eng] Combining Panel Data and Macro Information for the Estimation of a Panel Probit Model . by François Laisney and Michael Lechner . When studying particular subgroups of a population the econometrician typically has few observations, and should draw upon any additional relevant information....

This paper investigates the properties of Box-Cox specifications for the labour supply of married women in France, estimated in four stages involving two dichotomous models, a regression with selectivity correction, and the calculation of sample means. Previous estimates implied wage...

We propose four different GMM estimators that allow almost consistent estimation of the structural parameters of panel probit models with fixed effects for the case of small <italic>T</italic>and large <italic>N</italic>. The moments used are derived for each period from a first order approximation of the mean of the dependent...

In several OECD countries age-targeted wage subsidies have been introduced to increase the employment of older workers, but evidence on their effectiveness is scarce. This paper examines the effects of a permanent wage cost subsidy in Belgium on the employment rate, working time and hourly wage....