Entrepreneurship, frictions, and wealth

Journal of Political Economy

Volumn 114, Issue 5, 2006, Pages 835-870

  Cagetti, Marco ^a   De Nardi, Mariacristina ^b,c  

^a FEDERAL RESERVE BOARD   (United States)

^b NATIONAL BUREAU OF ECONOMIC RESEARCH   (United States)

^c UNIVERSITY OF MINNESOTA   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

CAPITAL; DECISION ANALYSIS; EMPIRICAL ANALYSIS; ENTREPRENEUR; FIRM SIZE; INVESTMENT; PARSIMONY ANALYSIS;

EID: 33750947303     PISSN: 00223808     EISSN: None     Source Type: Journal    
DOI: 10.1086/508032     Document Type: Article

References (37)

1. Albuquerque, Rui, and Hugo A. Hopenhayn. 2004. "Optimal Lending Contracts with Imperfect Enforceability." Rev. Econ. Studies 71 (April): 285-315.
2. Arrow, Kenneth J. 1962. "Economic Welfare and the Allocation of Resources for Invention." In The Rate and Direction of Inventive Activity: Economic and Social Factors. Princeton, NJ: Princeton Univ. Press (for NBER).
3. Attanasio, Orazio P., James Banks, Costas Meghir, and Guglielmo Weber. 1999. "Humps and Bumps in Lifetime Consumption." J. Bus. and Econ. Statis. 17 (January): 22-35.
4. Auerbach, Alan J., and Laurence J. Kotlikoff. 1995. Macroeconomics: An Integrated Approach. Cincinnati: South-Western.
5. Basu, Susanto, and John G. Fernald. 1997. "Returns to Scale in U.S. Production: Estimates and Implications."J.P.E. 105 (April): 249-83.
6. Berkowitz, Jeremy, and Michelle J. White. 2004. "Bankruptcy and Small Firms' Access to Credit." Rand J. Econ. 35 (Spring): 69-84.
7. Bewley, Truman F. 1977. "The Permanent Income Hypothesis: A Theoretical Formulation." J. Econ. Theory 16 (December): 252-92.
8. Blanchard, Olivier J. 1985. "Debt, Deficits, and Finite Horizons."J.P.E. 93 (April): 223-47.
9. Buera, Francisco. 2006. "Persistency of Poverty, Financial Frictions, and Entrepreneurship." Manuscript, Northwestern Univ., Dept. Econ.
10. Burnside, Craig, Martin Eichenbaum, and Sergio Rebelo. 1995. "Capital Utilization and Returns to Scale." In NBER Macroeconomics Annual 1995, edited by Ben S. Bernanke and Julio J. Rotemberg. Cambridge, MA: MIT Press.
11. Cagetti, Marco, and Mariacristina De Nardi. 2004. "Taxation, Entrepreneurship and Wealth." Staff Report no. 340, Fed. Reserve Bank Minneapolis.
12. Cagetti, Marco, and Mariacristina De Nardi. 2005. "Wealth Inequality. Data and Models." Working Paper no. 2005-10, Fed. Reserve Bank Chicago.
13. Carroll, Christopher D. 1997. "Buffer Stock Saving and the Life Cycle/Permanent Income Hypothesis." Q.J.E. 112 (February): 1-55.
14. Castañeda, Ana, Javier Díaz-Giménez, and José-Víctor Ríos-Rull. 2003. "Accounting for the U.S. Earnings and Wealth Inequality." J.P.E. 111 (August): 818-57.
15. Cooley, Thomas, Ramon Marimon, and Vincenzo Quadrini. 2004. "Aggregate Consequences of Limited Contract Enforceability." J.P.E. 112 (August): 817-47.
16. Curtin, Richard T., F. Thomas Juster, and James N. Morgan. 1989. "Survey Estimates of Wealth: An Assessment of Quality." In The Measurement of Saving, Investment and Wealth, edited by Robert E. Lipsey and Helen Stone Tice. Chicago: Univ. Chicago Press (for NBER).
17. De Nardi, Mariacristina. 2004. "Wealth Inequality and Intergenerational Links." Rev. Econ. Studies 71 (July): 743-68.
18. Eisfeldt, Andrea L., and Adriano A- Rampini. 2005. "New or Used? Investment with Credit Constraints." Manuscript, Northwestern Univ., Kellogg School Management.
19. Evans, David S., and Boyan Jovanovic. 1989. "An Estimated Model of Entrepreneurial Choice under Liquidity Constraints."J.P.E. 97 (August): 808-27.
20. Gentry, William M., and R. Glenn Hubbard. 2004. "Entrepreneurship and House-hold Savings." Advances Econ. Analysis and Policy 4 (1): art- 8. http://www.bepress.com/bejeap/advances/.
21. Gertler, Mark. 1999. "Government Debt and Social Security in a Life-Cycle Economy." Carnegie-Rochester Conf. Ser. Public Policy 50 (June): 61-110.
22. Gollin, Douglas. 2002. "Getting Income Shares Right."J.P.E. 110 (April): 458-74.
23. Holtz-Eakin, Douglas, David Joulfaian, and Harvey S. Rosen. 1994. "Sticking It Out: Entrepreneurial Survival and Liquidity Constraints." J.P.E. 102 (February): 53-75.
24. Hurst, Erik, and Annamaria Lusardi. 2004. "Liquidity Constraints, Household Wealth, and Entrepreneur-ship."J.P.E. 112 (April): 319-47.
25. Kehoe, Timothy J., and David K. Levine. 1993. "Debt-Constrained Asset Markets." Rev. Econ. Studies 60 (October): 865-88.
26. Kotlikoff, Laurence J., Kent A. Smetters, and Jan Walliser. 1999. "Privatizing Social Security in the United States-Comparing the Options." Rev. Econ. Dynamics 2 (July): 532-74.
27. Lucas, Robert E., Jr. 1978. "On the Size Distribution of Business Firms." Bell J. Econ. 9 (Autumn): 508-23.
28. Marcet, Albert, and Ramon Marimon. 1992. "Communication, Commitment, and Growth." J. Econ. Theory 58 (December): 219-49.
29. Moskowitz, Tobias J., and Annette Vissing-Jørgensen. 2002. "The Returns to Entrepreneurial Investment: A Private Equity Premium Puzzle?" A.E.R. 92 (September): 745-78.
30. Plate, Roger L., Gary P. Bingham, Dennis R. Cox, Berdj Kenadjian, and Alan H. Plumley. 1990. "Income Tax Compliance Research: Net Tax Gap and Remittance Gap Estimates." Supplement to Publication 7285, Internal Revenue Service, Washington, DC.
31. Quadrini, Vincenzo. 1999. "The Importance of Entrepreneurship for Wealth Concentration and Mobility." Rev. Income and Wealth 45 (March): 1-19.
32. Quadrini, Vincenzo. 2000. "Entrepreneurship, Saving, and Social Mobility." Rev. Econ. Dynamics 3 (January): 1-40.
33. Rissman, Ellen R. 2003. "Self-Employment as an Alternative to Unemployment." Working Paper no. 2003-24, Fed. Reserve Bank Chicago.
34. Smith, Roy C. 2001. The Wealth Creators: The Rise of Today's New Rich and Super-Rich. New York: St. Martin's.
35. Stokey, Nancy L., and Sergio Rebelo. 1995. "Growth Effects of Flat-Rate Taxes." J.P.E. 103 (June): 519-50.
36. Storesletten, Kjetil, Chris I. Telmer, and Amir Yaron. 2004. "Cyclical Dynamics in Idiosyncratic Labor Market Risk."J.P.E. 112 (June): 695-717.
37. Tauchen, George, and Robert Hussey. 1991. "Quadrature-Based Methods for Obtaining Approximate Solutions to Nonlinear Asset Pricing Models." Econometrica 59 (March): 371-96.