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
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
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http://www3.uah.es/iaes/publicaciones/DT_09_13.pdf First version, 2013 (application/pdf)
Working Paper: From complements to substitutes: Structural breaks in the elasticity of substitution between paid-employment and self-employment in the US (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:uae:wpaper:0913
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