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An informal model is described that leads to multiple macroeconomic equilibria as a consequence of random variation in the relative amounts of technological change for new and existing goods. The novel observation is that the rate of introduction and market penetration of new goods vis-a-vis...
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This paper analyses the level of inequality in Spain and how it evolved over the course of the past crisis and the … and wealth inequality, and studies how they have developed. The analysis shows less wage dispersion in Spain than in other … inequality in per capita income. The level of inequality in Spain is more moderate when total gross household income is analysed …
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