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focused on the other direction. We use cross-country panel data for the time period 1960-2005 to estimate war-related changes … in income inequality. Our results indicate rising levels of inequality during war and especially in the early period of … post-war reconstruction. However, we find that this rise in income inequality is not permanent. While inequality peaks …
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The success of joint liability programs depends on nature and composition of borrowing groups. Group formation is a costly process and in our model these costs vary with the social identity of group partners. We show that risk heterogeneity in a borrowing group may arise due to the social...
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