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Free market entry is vital in preventing concentration of market power and eliminating large deadweight losses. Yet, in recent years, studies show that newcomers are less successful than existing firms that have diversifies their products in the market. What might explain this phenomenon?This...
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"This paper studies the effect of unemployment benefits on the unemployment and subsequent employment duration using … unemployment and subsequent employment duration for the recipients is statistically significant for the short-term unemployed in … a two-state mixed proportional hazard model allowing for flexible duration dependence and state specific unobserved …
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