A General Equilibrium Self-Employment Theory based on Human Capital Differences

Gerardo Jacobs

No 270, Econometric Society 2004 Latin American Meetings from Econometric Society

Abstract: Since a big proportion of the labor force in developing countries belongs to the self-employment sector, it is desirable to build models to study these dynamics. Previous works study the occupational choices of agents. The most recent ones build general equilibrium economies with three types of agents: entrepreneurs, workers and self-employees. Unfortunately, in theses works at equilibrium, workers are poorer than agents in self-employment. Data for developing countries shows that self-employment provides a subsistence level for most agents, with workers earning a higher level of income. This work builds a general equilibrium model that is consistent with this observation

Keywords: Self-Employment (search for similar items in EconPapers)
JEL-codes: J21 L25 (search for similar items in EconPapers)
Date: 2004-08-11
New Economics Papers: this item is included in nep-ent and nep-lab
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