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environments like the Internet, they have very limited {\em a priori} information about the other players and the payoff matrix …
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This paper demonstrates several strengths and shortcomings of models of sectoral reallocation. Although such models demonstrate that sectoral reallocation can be an important amplification and propagation mechanism for exogenous shocks, they are essentially unable to explain any effects of...
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unemployment benefits in response to an unemployment shock in a simple, reduced-form model of the labor market. It is found that …
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