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Using a model of O-ring production function, the paper demonstrates how certain communities can get caught in a low-literacy trap in which each individual finds it not worthwhile investing in higher skills because others are not high-skilled. The model sheds light on educational policy. It is...
Persistent link: https://www.econbiz.de/10008512470
isolates two very different kinds of interventions needed to restore the economy back to health, arguing that government …
Persistent link: https://www.econbiz.de/10004976651