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Working Paper
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– Different economic models but similarly low levels of socioeconomic mobility
The United States and China are the world’s largest economies. Together they are responsible for about one-third of the world’s economic output. This paper aims to examine whether the two economic giants are also lands of opportunity where resources are allocated in a way that minimizes unrealized...
Working Paper
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Inequality in the distribution of family income, which had remained virtually unchanged since the end of World War II until 1968, has increased sharply since then. Inequality in household wealth has increased even more dramatically, with the share of the top one per cent doubling since 1976. Perhaps...
Working Paper
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– Geographic Concentration and Convergence of Internet Industries in the US
This paper investigates the effect of information technology on industrial patterns of concentration and convergence. Information-technology intensive industries exhibit slower employment convergence than other industries. The regression estimates suggest that the highest-IT industries exhibit...
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