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A final product is created through a chain of activities that add value to the product. Value chains describe the range of activities firms and workers perform to produce a product or service from its foundation to final use. Using the World Input-Output Database containing data on sales and...
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This paper investigates the relationship between household saving and pensions, and estimates both the displacement … savings equation derived from a lifecycle model featuring income uncertainty using survey data for Dutch households, with … the estimated displacement effect of pensions on private savings towards zero. …
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