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We study how the presence of promotion competition in the labor market affects household specialization patterns. By … embedding a promotion tournament model in a household setting, we show that specialization can emerge as a consequence of … welfare superior to a situation in which both spouses invest equally in their careers. The reason is that household …
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The portfolios of the poor -- The daily grind -- Dealing with risk -- Building blocks : creating usefully large sums -- The price of money -- Rethinking microfinance : the Grameen II diaries -- Better portfolios
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