The effects of exposure to hyperinflation on occupational choice

João M.P. de Mello, Caio Waisman, Eduardo Zilberman*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

1 Scopus citations


We use data on immigrants who live in the United States to study the effects of exposure to hyperinflation on occupational choice. To do so, we calculate the number of years an individual had lived under hyperinflation before arriving to the US. We find that its marginal effect on the probability of being self-employed instead of wage-earner is 0.87 percentage point. This finding suggests that the macroeconomic environment one lives in permanently affects his economic behavior. The estimated effect depends on the age individuals had when exposed to hyperinflation. In particular, it vanishes for those over the age of 40.

Original languageEnglish (US)
Pages (from-to)109-123
Number of pages15
JournalJournal of Economic Behavior and Organization
StatePublished - Oct 2014


  • Hyperinflation
  • Immigrants
  • Self-employment

ASJC Scopus subject areas

  • Economics and Econometrics
  • Organizational Behavior and Human Resource Management

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