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We construct a model of innovation incorporating R&D externalities, R&D participation, financial market imperfections, and application and allocation of R&D subsidies, estimate it using Finnish R&D project level data and conduct a welfare analysis. The intensive, not the extensive R&D margin is...
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Understanding the distributional consequences of progressive fossil fuel subsidy reform is critical to the … welfare effects of fossil fuel subsidy reforms on Nigerian households, focusing on the socio-economic implications of petrol … subsidy removal and household welfare, highlighting the varied impacts across different income groups and residential settings …
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We study the role of endogenous healthcare choices by households to extend their expected lifetimes on economic growth and welfare in a decentralized overlapping generations economy with the realistic feature that households' savings are held in annuities. We characterize healthcare spending in...
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