Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: http://hdl.handle.net/10419/185498
Autoren: 
Dell'Era, Michele
Opromolla, Luca David
Santos-Pinto, Luís
Datum: 
2018
Schriftenreihe/Nr.: 
CESifo Working Paper No. 7300
Zusammenfassung: 
This paper studies the impact of optimism on occupational choice using a general equilibrium framework. The model shows that optimism has four main qualitative effects: it leads to a misallocation of talent, drives up input prices, raises the number of entrepreneurs, and makes entrepreneurs worse off. We calibrate the model to match U.S. manufacturing data. This allows us to make quantitative predictions regarding the impact of optimism on occupational choice, input prices, the returns to entrepreneurship, and output. The calibration shows that optimism can explain the empirical puzzle of the low mean returns to entrepreneurship compared to average wages.
Schlagwörter: 
general equilibrium
entrepreneurship
optimism
JEL: 
D50
H21
J24
L26
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
456.19 kB





Publikationen in EconStor sind urheberrechtlich geschützt.