The paper specifies a disequilibrium model for the aggregate
labor market consisting of demand and supply functions for labor,
an adjustment equation for wages as well as for prices, a
transactions equation and, finally, an equation that relates
measured unemployment…

We examine why some individuals survive as entrepreneurs and others do not. In
addition. we analyze the growth of entrepreneurial enterprises, conditional on surviving. Our
focus is on the role of access to capital--to what extent do liquidity constraints increase…

Two approaches to estimation and testing of fixed effects models are
commonly found in the econometrics literature. The first involves variations on
instrumental variables. The second, a Minimum Chi-Square (MCS) procedure
introduced by Chamberlain, minimizes a quadratic form in the…

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