On the Duration of Self-Employment: The Impact of Macroeconomic Conditions

Nziramasanga, Mudziviri; Lee, Minsoo

doi:10.1080/00220380412331322661

Cited by 11 publications

(7 citation statements)

References 17 publications

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“…However, controlling for significant macroeconomic sources of variance significantly increases the quality of results pertaining to individual effects. In this sense, other measures of aggregated conditions are included in Reize (2000), Nziramasanga and Lee (2002), van Praag (2003), Fertala (2008) and Muñoz and Cueto (2008). Thus, as an alternative control for the business cycle, Reize (2000) and Muñoz and Cueto (2008) consider the growth rate of the domestic product.…”

Section: Questionmentioning

confidence: 99%

“…Thus, our estimations include as relevant covariates a measure of strictness of employment protection legislation (EPL) and public expenditure on start-up 4 See Evans and Leighton (1990); Meager (1996); Wiessner (1998); Carrasco (1999); Reize (2000Reize ( , 2004; Pfeiffer and Reize (2000a, b); Del Monte and Scalera (2001); Meager et al (2003); Cueto and Mato (2006); Andersson and Wadensjö (2007); Ejrnaes and Hochguertel (2008); Baptista et al (2010), Caliendo and Kritikos (2010); Haapanen and Tervo (2009) and Tokila (2009). 5 See Reize (2000); Bruce (2002); Nziramasanga and Lee (2002); van Praag (2003); Gurley-Calvez (2006); Fertala (2008); Gurley-Calvez and Bruce (2008); Kugler and Pica (2008) and Muñoz and Cueto (2008). 6 The ECHP data are used with the permission of Eurostat (contract ECHP/2006/09, held with the Universidad de Huelva).…”

Section: Introductionmentioning

confidence: 99%

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Determinants of self-employment survival in Europe

2010

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This paper investigates the determinants of self-employment survival in Europe in two stages. The first one focuses on the effect of variables at the individual level, while the second raises questions regarding specific regional factors through the introduction of macro variables. In conducting this analysis, discrete choice models, including both single and competing risks frameworks, are applied to data drawn from the European Community Household Panel from 1994 to 2001. Different destination states are considered: paid employment, unemployment and inactivity. This allows us to search for the underlying determinants of these different hazards. The results suggest a positive impact on survival of formal education and previous experience within the labour market. In addition, we find that entering self-employment from unemployment has a strong negative effect on survival within self-employment. However, our results also show that the expenditure on start-up subsidies decreases the risk of exiting self-employment specifically for the group of individuals entering self-employment from unemployment. Therefore, the availability of these incentives might be seen by policymakers as not only a route to increase entry into self-employment, but also as an adequate instrument for equalising survival chances across individuals entering self-employment from unemployment and those entering with a different starting status.Keywords Entrepreneurship Á Self-employment Á Survival Á Occupational choice Á Labour market policies Á Regulatory environment JEL Classifications C41 Á J08 Á J24 Á J60 Á M13 Electronic supplementary material The online version of this article (

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Section: Questionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Determinants of self-employment survival in Europe

2010

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“…To study the dynamic interactions and causal relation strength between the variables, we compute variance decomposition (VDC) and impulse response function (IRF). According to Nziramasanga and Lee (2002), Ibrahim (2003), and Sahu and Pandey (2018), variance decomposition reveals the contribution of one time series in explaining the forecast error variance of another time series, while IRF shows the response of one time series to the standard deviation shock to another time series.…”

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confidence: 99%

Investigating the Effect of Broad Money Supply on Stock Market Index and Market Capitalization: Evidence from Liberalized India

Bhattacharjee

Das

2021

Jindal Journal of Business Research

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The present study investigates the effect of changes in money supply on both Indian stock market sensitive index and stock market overall capitalization by employing unit root test with break point, Johansen’s cointegration test, vector error correction (VEC) model, VEC Granger causality test, variance decomposition, and impulse response function. The result of the unit root test reveals that all the variables are nonstationary in levels but become stationary at the first-order difference. The unit root test further reveals that there are structural breaks in the mid-1990s or 2000s. The Johansen’s cointegration test reveals that the Indian stock market index and stock market capitalization are individually cointegrated with money supply. Further, the long-run co-movement between the Indian stock market and money supply and stock market capitalization and money supply is found to be positive. The results of the VEC model shows that the error correction term in the lnSENSEX–lnMS model is negative and statistically significant, while the error correction term in the lnMARCAP–lnMS model is found to be insignificant. The VEC Granger causality test shows that there is no short-run causal relationship between the variables. The variance decomposition indicates that both Indian stock market index and stock market capitalization are strongly exogenous. The impulse response function suggests that money supply has an immediate positive effect on both Indian stock market index and stock market capitalization. The investors and fund managers should take investment decisions keeping in view the positive co-movement of Indian stock market performance and broad money supply. The study recommends that the government should avoid aggressive tightening of money supply.

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“…The other studies researched self-employment growth/development considering the aspect of macroeconomic environment (Cueto, Mato, 2006;Nziramasanga, Lee, 2002). It is proposed that business cycles have impact on the fluctuation of self-employment rate, i.e.…”

Section: Literature Review: Macro Environment Factors Of Self-empmentioning

confidence: 99%