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Using a Markov-switching GARCH model this paper analyzes the volatility evolution of the greenback's price in gold from after the Civil War until the return to gold convertibility in 1879. The econometric inference associated with our methodology indicates a switch to a regime of low volatility...
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percentage losses in retirement savings as a result of more frequent spells of unemployment. Higher income worker losses are more …
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, policy-makers, and scholars of retirement economics are included. …
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