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investment, together with increasing returns, may well actually increase real earnings. If immigration itself is not wholly …
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investment, together with increasing returns, may well actually increase real earnings. If immigration itself is not wholly …
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on nominal wage rigidities at the firm level. I trace out the long-run investment and growth trajectories of firms which … investment gap for two years following the shock, resulting in a persistent accumulated growth gap. I show that affected firms … with a higher degree of wage rigidity exhibit a steeper drop in investment and grow more slowly than affected firms with …
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