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Inequality of opportunity strikes when two children with the same academic performance are sent to diff erent quality … children are signi ficantly less likely to enter the academic track if they come from low socio-economic status (SES) families …-intensity mentoring program can improve long-run education outcomes of low SES children and reduce inequality of opportunity. Low SES …
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We present a model in which banks and other financial intermediaries face both occasionally binding borrowing constraints, and costs of equity issuance. Near the steady state, these intermediaries can raise equity finance at no cost through retained earnings. However, even moderately large...
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We study the role of household saving behaviour, of individual motives for saving and that of perceived liquidity … constraints in 15 Euro Area countries. The empirical analysis is based on the Household Finance and Consumption Survey, a new … harmonized data set collecting detailed information on wealth holdings, consumption and income at the household level. Since the …
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We investigate whether frictions in US financial markets amplify the international propagation of US financial shocks. The dynamics of the US economy is modeled jointly with global macroeconomic and financial variables using a threshold vector autoregression that allows us to capture...
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