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The worldwide problem with pay-as-you-go, defined-benefits social security systems is not just financial. Through a dynamic, overlapping-generations model where forming a family and bearing and educating children are choice variables, we show that social security taxes and benefits generate...
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Pasinetti (1962) approach to differential saving propensities among classes with the theory of induced technical change (ITC) by …, differential savings delivers a direct relationship between the capitalist share of wealth and the capital-income ratio independent …
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