TY  - RPRT
        AU  - Poutvaara, Panu
AU  - Tuomala, Juha
        TI  - What Is Left to Residual Claimants? The Empirics of Income Reported by Entrepreneurs and Workers
        PY  - 2004/Jun/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 1178
        UR  - https://www.iza.org/publications/dp1178
        AB  - Using Finnish panel data, we study how entrepreneurs differ from workers in education and
income dynamics. We find that workers have higher median income in all educational groups.
Without additional controls, entrepreneurs have higher average income with all but
undergraduate level of education. However, random effects and matching models suggest
that entrepreneurs have lower incomes. We also analyze those who changed careers. Those
with higher level of education are more likely to switch from entrepreneurship to workers,
while education does not explain, in a statistically significant level, switching from being
worker to entrepreneurship.
        KW  - entrepreneurs
KW  - workers
KW  - Finnish labor market
KW  - education
        ER  -