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. However, traditional measurement of technological progress assumes perfect competition and no fixed cost. This paper … incorporates these two factors in the technological-progress measurement and investigates the biases caused by their omission. We … measurement underestimates the true technological progress. We apply this methodology to Japanese and US industries, and find that …
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By making use of Duncan & Hoffman's empirical model, the economic returns to overeducation and undereducation are estimated using comparable microdata from the middle of the 2000s for 25 European countries. The estimates confirm some of the main results found in the literature. The wage premium...
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