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This paper studies short-run wealth mobility in a heterogeneous agents, incomplete-markets model. Wealth mobility has a “hump-shaped” relationship with the persistence of the stochastic process governing labor income: low when shocks are close to i.i.d. or close to a random walk, and higher...
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We use databases we have created from the records of New York's Emigrant Savings Bank, founded by pre-Famine Irish immigrants and their children to serve Famine era immigrants, to study the social mobility of bank customers and, by extension, Irish immigrants more generally. We infer that New...
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Internal migration dominates population mobility in Indonesia; according to the 2010 census, there were almost 30 … million permanent migrants, around 12.5 percent of the population. The effects of this internal migration on the second … generation continue to be under-explored. This paper investigates the long-term impact of parents' migration on their children …
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with that of migration and addresses this gap by developing a theory of a growing phenomenon: the transnational social …
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