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between two activities: producing goods with the production-related knowledge they already have, and interacting with others … and its rate of learning and real growth. Individuals' time allocation decisions depend on the knowledge distribution … time allocations of everyone in the economy in turn determine the evolution of its knowledge distribution. We construct the …
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"What is the role of transport improvements in globalization? We argue that the nineteenth century is the ideal testing ground for this question: freight rates fell on average by 50% while global trade increased 400% from 1870 to 1913. We estimate the first indices of bilateral freight rates for...
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