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positive at the onset of the episode, through promising higher inflation rates in future periods. We embed our theory into a …
Persistent link: https://www.econbiz.de/10012304687
We develop a quantitative framework in which income inequality arises endogenously in response to productivity shocks. The framework accommodates sectoral inputoutput linkages, arbitrary elasticities of factors and intermediates, and heterogeneous workers that endogenously choose to supply their...
Persistent link: https://www.econbiz.de/10013443717