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This paper studies the effects of a path change in government debt composition and aggregate transfers on allocations and prices. It is shown that the effects are zero under some agent-specific transfer scheme even when markets are incomplete. If markets are complete, then the effects are zero...
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this task. Using a new survey of older couples, I find that women acquire financial literacy as they approach widowhood. At … household division of labor breaks down when a spouse dies: women have incentives both to delay acquiring financial knowledge … and also to begin learning before widowhood. This paper represents the first empirical examination of the financial …
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