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Keyword: sunspot equilibria;
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This paper is about measuring social well-being and evaluating policy. Part I is concerned with the links between the two, while Parts II and III, respectively, are devoted to the development of appropriate methods of me...Read more...
Luis Carranza and Jose E. Galdon-Sanchez
In this paper we have built a model of financial intermediation that explains the GDP variability pattern of an economy during the development process. In our model, per capita is more volatile in the middle-income econo...Read more...