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correlated with a 1% increase in rent. Market power is substantial: on average, markups account for nearly a third of rents in …
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This paper develops a simple theoretical model to analyze Marx's theory of ground rent. Using the model, I demonstrate … two important results. First, if we take capital as exogenous, then total ground-rent can be decomposed into the three … components: differential rent of the first variety (DRI), differential rent of the second variety (DRII), and absolute rent (AR …
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