Baier, Scott L.; Gerald P. Dwyer, Jr. - Federal Reserve Bank of Atlanta - 2008
associating the convergence of black market premia with declines in black market premia. … of relative efficiency units. For example,
if labor-augmenting technology is five times higher in the United States than in … education above the 8th year. As in Bils and Klenow (2000), we assume the
return to experience is quadratic.
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the U.S. are …