Health and retirement study
Baby Boomers age 52 to 65 in the 2012 wave. N=9063.
Compare boomer entrepreneurs to previous cohort of
entrepreneurs of the same age range. (1998 HRS wave).
Very difficult to define entrepreneurs.
Self-employment is measure and proxy of entrepreneurship.
Small scale data.
Business ownership is also an imperfect indicator of
entrepreneurship. (You could have inherited or purchase. Nothing to do with
starting). Another argument to look at the flows than the stocks.
In HRS, both business ownership and business income are
reported at the household level.
Measure: 1). Labor force participation 2). Self-employment
3). Receipt of business & wage incomes 4). Partner works n family business
as reported by self-employed in individual in a couple
Entrepreneur: self-employed. Working in the family business.
Not sole wage earner.
Capture active participation.
Compare with the Kauffman Index, calculated using Census’
Current Population Survey (CPS). You are self-employed and work at least 15
hours.
8% of all individuals in the age range are entrepreneurs
(business owners)
13% of all individuals in the age range are self-employed.
In only 39% cases do the two definitions coincide.
Labor force participation in this age group has increased
and so condition on lfp, the rate should be more pronounced.
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