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This paper examines the role of alternative assumptions on savings and expectations for the fixwage traverse with strong forward biased technological change. After briefly outlining the model, some peculiarities of the adjustment path under the Hicksian Q-Assumption are investigated....
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, the passbook remained a cornerstone of household saving in Germany. Drawing upon research in several bank archives in the … inability of banks to keep their customers in the dark about the real opportunity costs of passbook saving. …
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