Self-employment and the Business Cycle: co movement and causality



The relationship between self-employment and macroeconomic performance is and has been at the heart of the debate about self-employment contributions to employment and economic growth. A positive relationship between self-employment and paid-employment or a negative relationship between self-employment and unemployment would increase the attractiveness of entrepreneurship promotion as instrument of an active labour market policy. This paper re-examines the evidence on the link between self-employment and various macroeconomic variables on quarterly data from Spain and the U.S.
The Erasmus - EIM - Panteia Entrepreneurship Lectures Series is co-organized by Erasmus Research Institute of Management ( and EIM Business & Policy Research (EIM/Panteia), an independent and international research and consultancy organisation, specialised in SMEs and Entrepreneurship. EIM is part of the Panteia group.
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Jörn Block Ingrid Verheul
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