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Output, wages and dividends feature term-structures of variance-ratios respectively flat, increasing and decreasing. Income insurance from shareholders to workers empirically and theoretically explains these term-structures. Risk sharing smooths wages but only concerns transitory risk and,...
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This paper uses a parametric approach to measure inequality of opportunities. It builds a simple theoretical model offering predictions on the changes of inequality of opportunity. It is expected to decline with the decline in intergenerational persistence in education, in the labour market...
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Soziale Integration ist der Schlüssel für nachhaltige Entwicklung! Im Mittelpunkt steht die Frage nach dem Gegensatz von Wachstums- und Verteilungszielen. Die theoretische Analyse betont die Rolle kultureller Diffusion. Die neue Antwort ist von großer wirtschaftspolitischer Relevanz:...
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