| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13225 |
| DP13225 A General Equilibrium Theory of Occupational Choice under Optimistic Beliefs about Entrepreneurial Ability | |
| Luca David Opromolla; Luis Santos-Pinto | |
| 发表日期 | 2018-10-07 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | 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. |
| 主题 | Industrial Organization ; Labour Economics ; Macroeconomics and Growth |
| 关键词 | General equilibrium entrepreneurship Optimism |
| URL | https://cepr.org/publications/dp13225 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542034 |
| 推荐引用方式 GB/T 7714 | Luca David Opromolla,Luis Santos-Pinto. DP13225 A General Equilibrium Theory of Occupational Choice under Optimistic Beliefs about Entrepreneurial Ability. 2018. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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