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weaker and labor informality is prevalent. In such environments, household saving decisions are intertwined with firms …
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weaker and labor informality is prevalent. In such environments, household saving decisions are intertwined with firms …
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We analyse the link between income distribution and the current account for the period 1972-2007. We find that rising (top-end) personal inequality leads to a decrease of the current account, ceteris paribus. This result is consistent with consumption externalities resulting from upward-looking...
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