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characteristic assumption is that some households never participate in financial markets. This paper proves the existence of an …, including output itself. The assumptions required for existence constrain the maximum value and the variability of the nominal …
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This paper studies the properties of convexity (concavity) and strategic complements (substitutes) in network formation and the implications for the structure of pairwise stable networks. First, different definitions of convexity (concavity) in own links from the literature are put into the...
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