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We consider a leader and a subordinate he appoints who engage in team production. The public observes the organization …
Persistent link: https://www.econbiz.de/10001607828
This paper examines the implications of income redistribution on human capital accumulation and income inequality, presenting a model where human capital investment is indivisible and agents differ in economic opportunity as well as intellectual ability. It is shown that the impact of...
Persistent link: https://www.econbiz.de/10001753212
Persistent link: https://www.econbiz.de/10000914060