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The literature on unemployment has mostly focused on labor market issues while the impact of capital formation is largely neglected. Job-creation is often thought to be a matter of encouraging more employment on a given capital stock. In contrast, this paper explicitly deals with the long-run...
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During the 2000s, Brazil experienced slow economic growth and a substantial improvement in labour market indicators …. From 2001 to 2012, Brazil grew less than the Latin American average. However, the unemployment rate decreased, the …
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