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This paper studies the role of credit in the business cycle, with a focus on private credit overhang. Based on a study of the universe of over 200 recession episodes in 14 advanced countries between 1870 and 2008, we document two key facts of the modern business cycle: financial-crisis...
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Children who grow up in more highly educated families have better labor market outcomes as adults than those who grow … children. This paper attempts to improve our understanding of the causal processes that contribute to intergenerational … schooling levels have an affect on children's outcomes that is independent of their innate ability and suggests that public …
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