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the relevance of unobserved firm heterogeneity since the validity of restricted pooled regression models is statistically … assets and even insignificant for Tobin’s Q in the flexible panel data models that include unobserved firm heterogeneity …
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I investigate how government ideology and globalization are associated with top income shares in 16 OECD countries over the period 1970 to 2010. I use the new World Top Incomes Database. Globalization is measured by the KOF index of globalization. The results show that the top 1% income share...
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