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alternative systems focuses on their effects on savings, capital accumulation, labour supply, economic growth and inequality and … on the savings rate, capital accumulation, productivity and the labour supply. These effects must be taken into account …
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In order to shed light on the patterns of economic development characterized by sustained growth and persistent wealth inequality, we develop an agent-based model in which generations overlap and parents leave bequests to offspring. The model shows how neighborhood effects influence the long-run...
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