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-to-mouth households. One-asset models either feature a trade-off between a high average MPC and a realistic level of aggregate wealth, or … generate an excessively polarized wealth distribution that vastly understates the wealth held by households in the middle of … of theory and data …
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-to-mouth households. One-asset models either feature a trade-off between a high average MPC and a realistic level of aggregate wealth, or … generate an excessively polarized wealth distribution that vastly understates the wealth held by households in the middle of … of theory and data …
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