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Entrepreneurship, College, and Credit: The Golden Triangle

Roberto Samaniego () and Juliana Yu Sun

Journal of Money, Credit and Banking, 2019, vol. 51, issue 7, 1765-1813

Abstract: We develop a model to evaluate the aggregate impact of college finance in an environment with entrepreneurship. The calibrated model captures the stylized fact that entrepreneurs with college are more common and more profitable in the United States. The calibration indicates this is mainly because higher labor earnings allow college‐educated agents to ameliorate credit constraints if and when they eventually become entrepreneurs. Changes in financing constraints on entrepreneurs can thus affect college attendance, and changes in financing constraints on college can affect entrepreneurship rates as well.

Date: 2019
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Working Paper: Entrepreneurship, College and Credit: The Golden Triangle (2016) Downloads
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Journal of Money, Credit and Banking is currently edited by Robert deYoung, Paul Evans, Pok-Sang Lam and Kenneth D. West

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