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For more than 80 years, many macroeconomic analyses have been premised on the assumption that workers' nominal wage rates cannot be cut. Contrary evidence from household surveys reasonably has been discounted on the ground that the measurement of frequent wage cuts might be an artifact of...
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In a model that is consistent with the existence of a home bias and with foreign investors that are less informed than domestic investors, we show that unexpectedly high worldwide returns lead to net equity inflows into small countries. In addition, a small country experiences net equity inflows...
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entrepreneur is therefore one of the main success factors for the firm. Yet entrepreneurs differ considerably in their background … percent of novice entrepreneurs who file for bankruptcy reestablish afterwards. On average, slightly more than 15 months will … elapse until such ‘fallen’ entrepreneurs venture out anew. They differ from entrepreneurs not willing or able to take a …
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