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In this paper, we present a matching model with adverse selection that explains why flows into and out of unemployment …
Persistent link: https://www.econbiz.de/10001483257
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This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...
Persistent link: https://www.econbiz.de/10001595502