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In this paper, I propose a life cycle model of painkiller consumption that combines the theory of health deficit … accumulation with the theory of addiction. Chronic pain is conceptualized as a persistent negative shock to lifetime utility that …
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One of the most stylized facts in labor economics is the finding that wages tend to rise with job duration but what is the role of productivity between this relation? Intuitively, it seems rather unspectacular that experienced workers' earnings are higher than otherwise comparable junior...
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