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After 2008, the Southern European economies suffered a strong and persistent increase in unemployment. Rising government bond spreads necessitated the implementation of austerity policies. Austerity however, may increase unemployment. If workers lose human capital during unemployment spells, the...
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debt payments dependent upon the liquidity in the financial system and marks a break with the classical theory of interest …
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Since the 2009 financial crisis, some national governments have adopted anticyclical tax policies for recovering and economic growth. These policies can be different in terms of what type of tax incentive policy (income, labor, value added) is chosen as well if the strategy is vertical,...
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Using Jones (2014) generalized human capital accounting, we extend the urban accounting model of Desmet and Rossi-Hansberg (2013) to account for the geographic distribution of skills across US metropolitan areas. The methodology allows the productivity of high-skill workers to depend on location...
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connects theory and data. We take input-output linkages across industries into account and make use of the recently established …
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All the progress made by the economists who established the theory of welfare, are based on the needs for the progress … climate dictates a review of the theory of welfare and its reconciliation on a fundamentally different basis. The global … . Any theory or formulation of welfare must sustain the today's requirement of moral values. Moral values can be retrieved …
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