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the job, job duration should be distributed uniformly. Using extreme value theory, we can infer the shape of the wage …
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, pre-tax income inequality decreases.We consider a Walrasian world with perfect capital and insurance markets. Hence, in …
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In this paper, we present a directed search model of the housing market. The pricing mechanism we analyze reflects the way houses are bought and sold in the United States. Our model is consistent with the observation that houses are sometimes sold above, sometimes below and sometimes at the...
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