We combine two empirical observations in a general equilibrium occupational choice model. The first is that entrepreneurs have more control than employees over the employment of and accruals from assets, such as human capital. The second observation is that entrepreneurs enjoy higher returns to...

We assess the relevance of formal education on the productivity of the self-employed and distinguish between opportunity entrepreneurs, who voluntarily pursue a business opportunity, and necessity entrepreneurs, who lack alternative employment options. We expect differences in the returns to...

We combine two empirical observations in a general equilibrium occupational choice model. The first is that entrepreneurs have more control than employees over the employment of and accruals from assets, such as human capital. The second observation is that entrepreneurs enjoy higher returns to...

We combine two empirical observations in a general equilibrium occupational choice model. The first is that entrepreneurs have more control than employees over the employment of and accruals from assets, such as human capital. The second observation is that entrepreneurs enjoy higher returns to...

We combine two empirical observations in a general equilibrium occupational choice model. The first is that entrepreneurs have more control than employees over the employment of and accruals from assets, such as human capital. The second observation is that entrepreneurs enjoy higher returns to...

We estimate the impact of schooling on monthly earnings from 1950 to 2000 in Romania. Nearly constant at about 3-4% during the socialist period, the coefficient on schooling in a conventional earnings regression rises steadily during the 1990s, reaching 8.5% by 2000. Our analysis finds little...

Recent evidence suggests that students are increasingly choosing community colleges as their point-of-entry to post-secondary education. An important question, therefore, is how community college attendance impacts a student's economic future. This study is one of the first to examine early...

This study presents estimates of returns to post-secondary education and wage differentials among graduates fromdifferent secondary schools in Germany. I use an empirical model that captures the basic features of the German education system. It controls for selection into post-secondary...

Racial inequality in economic outcomes, particularly among the college educated, persists throughout US society. Scholars debate whether this inequality stems from racial differences in human capital (e.g., college selectivity, GPA, college major) or employer discrimination against black job...

In this paper, we undertake empirical analysis to understand U.S. wage behavior since thebeginning of the new millennium. At the macroeconomic level, we find that aproductivity-augmented Phillips curve model explains the data fairly well. The modelreveals that the upward pressure on wage growth...