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growth, to analyze the interaction between income distribution and migration. The paradoxical positive effect of a brain …
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inherent part of the long-run growth process.The cyclical equilibrium that we study has a higher long-run growth rate but lower … business cycles, and that across cycling economies, a negative relationship emerges between volatility and growth. …
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Consider a monopolist who sells a durable good, and repairs the good if it breaks down. Suppose that contracts that specify future repair prices cannot be written, so that there is an aftermarket" situation. When consumers are risk-averse, the monopolist chooses inefficiently high repair prices;...
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