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naturally arises from unprecedented shocks, the theory of pseudo-wealth provides new understandings of both the origins of …
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, but aggregate consumption experiences significant changes. We present a theory of pseudo-wealth—individuals' perceived …
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, but aggregate consumption experiences significant changes. We present a theory of pseudo-wealth--individuals' perceived …
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That of the multiplier is a largely debated issue. Several studies propose estimates for it. This paper answers the question of how inequality affects the value of the multiplier. The proposed formulation is analytically derived from the Lorenz curve of income by means of Zanardi asymmetry...
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