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The combined demographic developments of population aging and high rates of migration of young adults are consequential for older parents who face a potential decline in support from adult children. These developments also impact the lives of migrant adults who face the challenge of providing...
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We explore four decades of cyclical and long-run dynamics in income distribution and economic activity for a panel of thirteen OECD countries, as measured by the wage share and the output gap. When modeled as a Goodwin model, our results suggest that economic activity is weakly profit-led and...
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A growth model is developed for an open dual economy. The economy expands owing to a higher growth rate of labour productivity in the modern sector through the Kaldor-Verdoorn channel and higher effective demand through a Keynesian channel. The model incorporates a retardation mechanism...
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