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theoretical prediction of a simple model, determines a much lower amount of savings and wealth accumulation and therefore a lower …
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theoretical prediction of a simple model, determines a much lower amount of savings and wealth accumulation and therefore a lower …
Persistent link: https://www.econbiz.de/10012488486
With 20 years of PSID data, we document persistent racial differentials in life-cycle consumption dynamics. Starting from similar positions in the consumption distribution Blacks end up in lower percentiles than Whites. Education, income, and wealth are three key drivers of these different...
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