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development strategies. Policy actions for a fairer income distribution or for more public investment run the risk of being …
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In this chapter, we first discuss the history of the Health and Retirement Study (HRS) network of surveys and how its development is intertwined with the major aging trends around the world. This discussion includes the origins of the HRS model, the main distinguishing features of the HRS-type...
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The answer is that people's evaluations of their income situation are based on different considerations when the … of others undercuts the tendency for happiness to grow with an increase in one's own income, and happiness remains fairly … for income evaluations turns inward. "Financial hardship", the shortfall from one's own previous peak income, takes over …
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In normative public economics it is crucial to know how fast the marginal utility of income declines as income …, using a number of assumptions, we are able to estimate the elasticity of marginal utility with respect to income. We obtain …
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