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We explore the consequence of quality unpredictability for the welfare benefit of new products, using recent … well as many others, then creating new products can have substantial welfare benefits. Technological change in the recorded … music industry tripled the number of new products between 2000 and 2008. We quantify the effects of new music on welfare …
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Greece’s labour market entered the COVID-19 shock following several years of sustained employment growth and with wages picking up. Unemployment remained high and employment rates were low, especially among women, the young and older workers. The shock led to a sharp fall in labour force...
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