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We propose a numerical test of the non-parametric conditions for additive separability between consumption and real money balances, building on Varian (1983). If additive separability is rejected, then real balances enter into the theoretical IS curve. We test whether or not monetary assets and...
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unemployment, which we calibrate on EU15 and US data. Labor market imperfections are found to significantly increase the volume of … to investigate how demographic asymmetries may have contributed to unemployment and welfare changes in the recent past … is mobile. -- demographics ; capital flows ; overlapping generations ; general equilibrium ; unemployment …
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We analyse the effects of demographic and education changes on unemployment rates in Europe. Using a panel of European … individuals, in general, experience lower unemployment rates, changes in the population age structure appear to be positively … related to young workers' unemployment rates while they have no effect on adults. Conversely changes in the skill structure …
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