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From complements to substitutes: Structural breaks in the elasticity of substitution between paidemployment and self-employment in the US

Emilio Congregado (), Vicente Esteve () and Antonio Golpe ()

No 09/13, Working Papers from Instituto Universitario de Análisis Económico y Social

Abstract: This paper provides estimates of the elasticity of substitution between operational and managerial jobs in the US economy during the years 1969- 2011. Estimating the long-term relationship between the aggregate employment/self-employment ratio and the returns from paid-employment relative to self-employment and testing for structural breaks, we report different estimates of the elasticity of substitution in each of the three regimes identified. Our results help to understand and interpret one of the most intriguing aspects in the evolution of self-employment rates in developed countries.

Keywords: Elasticity of substitution; Cointegration; Self-employment; Structural Breaks (search for similar items in EconPapers)
Pages: 23 pages
Date: 2013-09
New Economics Papers: this item is included in nep-lma
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http://www3.uah.es/iaes/publicaciones/DT_09_13.pdf First version, 2013 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:uae:wpaper:0913

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