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This paper presents examination of how a pension policy affects income growth and the inflation rate in a utility model. Even if the contribution rate of pension increases because of an aging society, an aging society increases income growth and the inflation rate. Moreover, this paper presents...
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This paper examines the bequest\gift behavior of altruistic parents who do not know their children's abilities and … cannot observe their children's work effort. Parents are likely to respond to this information problem by making larger … bequests to higher earning children and by using their transfers implicitly either to tax at the margin low earning children or …
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