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A Monte Carlo Investigation
K C Fung A Theory of Trade Adjustment Assistance April 1991
YinWong Cheung Stock Market Volatility and Fractional Integration September
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accumulation of human assume assumption augmentable factors born in period Buiter and Kletzer closed economy constant returns constraint is binding consumption decreasing returns differences distortionary educational expenditures elasticity of output endogenous growth models endowment of human equilibrium factors of production financial capital mobility financial saving given in equation growth rate differentials home country human capital accumulation human capital formation human wealth income effect increase in public interest rate intergenerational redistribution international productivity growth level of human lump-sum taxes marginal product marginal utility middle age non-negative non-traded output with respect overlapping generations model physical and human physical capital physical to human production function productivity growth differentials productivity growth rate public spending rate of human rates of convergence ratio of physical reduce returns to augmentable returns to scale Santa Cruz security retirement scheme social security retirement spending on education steady steady-state tradable unfunded social security utility function wage rate young zero