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Verwendung der Selektivitätskorrektur der nach der Theorie erwartete positive Effekt des Reservationslohns auf die …
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Labor market frictions are not the only possible factor responsible for high unemployment. Credit market imperfections, driven by microeconomic frictions and impacted upon by macroeconomic factors such as monetary policy, could also be to blame. This paper shows that labor and credit market...
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