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-Saxon" model. The data suggest otherwise. Moreover, the corporate sector in Europe has a much lower capacity to finance investment … from internal sources of funds, which implies that a recovery of investment in Europe will be much more difficult than in …
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The debate in Australia on the (constant-output) elasticity of labour demand with respect to wages has wrongly sidelined the role of capital stock as a determinant of employment (Webster, 2003). As far back as 1991, Pissarides had argued that the influence of capital stock on the performance of...
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