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, namely, the abolition of slavery and the evolution of bankruptcy laws. This paper investigates the welfare implications of … sub-optimal outcomes under the institutions of slavery and unlimited liability. The abolition of slavery and the …
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In this chapter we present an overview of the history of racial differences in schooling in the United States. We present basic data on literacy, school attendance, educational attainment, various measures of school quality, and the returns to schooling. Then, in the context of a simple model of...
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