Entrepreneurship and Growth — An Overlapping Generations Approach —

  title={Entrepreneurship and Growth — An Overlapping Generations Approach —},
  author={Christiane Clemens}
This paper discusses a two–sector neoclassical overlapping generations economy with intermediate and final goods in the spirit of Romer (1990). The risk averse agents engage in one of two alternative occupations: either firm–ownership in the intermediate goods sector, characterized by monopolistic competition, or employment as a worker in this sector. The occupational choice under risk endogenizes the number of firms and products in the intermediate goods industry. Since entrepreneurial profits… CONTINUE READING


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