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This paper develops a dynamic continuous-time model in which international risk sharing can yield substantial welfare gains through its positive effect on expected consumption growth. The mechanism linking global diversification to growth is an attendant world portfolio shift from safe, but...
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I analyze the effects of four types of medical innovation and cancer incidence on US cancer mortality rates during the … pre‐dated factors that drove both innovation and mortality and that there would have been parallel trends in mortality in … the absence of innovation, the estimates indicate that there were three major sources of the 13.8% decline of the age …
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contribution by Lichtenberg (2004), which relates longevity in the United States to pharmaceutical innovation and public health …
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