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In empirical studies it often happens that some variables for some units are far away from the other observations in the sample. These extreme observations, or outliers, often have a large impact on the results of statistical analyses - conclusions based on a sample with and without these units...
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uninsurable labor income risk, and economic growth in a small open overlapping-generations economy with heterogeneous agents. It … impact of higher inequality on the aggregate human capital stock, and thus, on growth may be positive. This result rests on …
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evolved non-monotonically in the course of human history. In early stages of development, risk-tolerant, growth promoting … evolutionary advantage, diminishing the growth potential of advanced economies and contributing to convergence in economic growth …
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moreover, it may help the less skilled households escape from the poverty trap, thus reducing long-run income inequality. …
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documented by Monte Carlo experiments. An empirical application to modelling of real GDP growth and investment-output ratios … dominant effects are found. The results also suggest that increase in investment as a share of GDP predict higher growth rate …
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genuine state dependence in poverty. We also provide estimates of low income transition rates and lengths of poverty and non-poverty …
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