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redistribution of wealth between households and the government, between nationals and foreigners, and between households within the … price level increase is matched by the gains of the government. Even though this redistribution is zero-sum, we observe …-linear effects on work effort of the redistribution of wealth across households. Finally, the direction of the change in the weighted …
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The interaction of debt and economic performance has been getting more at-tention over the last few years. However, models making provision for debt are still out-numbered by models completely ignoring it. This paper is the first one to analyze therelationship between household debt (in the form...
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