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This paper studies theoretically and empirically why and how labor policies may reduce productivity and employment in order to stabilize labor incomes and redistribute resources. It proposes a specific stylized model where the tradeoffs facing labor policies are influenced by structural factors,...
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The revised edition of this highly acclaimed work presents crucial lessons from Japan's recession that could aid the US … and other economies as they struggle to recover from the current financial crisis. This book is about Japan's 15-year long … happened to Japan, but the discoveries made are so far-reaching that a large portion of economics literature will have to be …
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