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This paper investigates if the ethnic skill differentials introduced into the United States by the inflow of very dissimilar immigrant groups during the Great Migration of 1880-1910 disappeared during the past century. An analysis of the 1910, 1940, and 1980 Censuses and the General Social Surveys revealed that ethnic differentials converge slowly. It might take four generations, or roughly 100 years, for the skill differentials introduced by the Great Migration to disappear. The analysis also indicates that the economic mobility experienced by American-born blacks resembles that of the white ethnic groups that made up the Great Migration.
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Summary in Dutch
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This report presents a simple equilibrium model of the cocaine industry in Peru, Bolivia, and Colombia. The purpose of the model is to represent the fundamental economic relations that determine the size of cocaine output and the price of cocaine, and to simulate the effects of policy initiatives or other changes in the surrounding environment. Model results indicate that: "crop substitution" programs will have a negligible impact on the world cocaine market. Cocaine supply control strategies that seize and destroy 70 percent or less of production, without limiting the total level of production, will have little impact on the market. Changes in the size of the world cocaine market have a relatively modest long-run impact on the standard of living of average workers in Peru, Bolivia, and Colombia.
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This paper provides a critical look at recent empirical work in international trade theory. The paper addresses the issue of why empirical work in international trade has perhaps not been as influential as it could have been. The paper also provides several suggestions on directions for future empirical research in international trade.
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Technological progress takes the form of improvements in quality of an array of intermediate inputs to production. In an equilibrium that is standard in the literature, all research is carried out by outsiders, and success means that the outsider replaces the incumbent as the industry leader. The equilibrium research intensity involves three considerations: leading-edge goods are priced above the competitive level, innovators value the extraction of monopoly rents from predecessors, and innovators regard their successes as temporary. We show that, if industry leaders have lower costs of research, then the leaders will do all the research in equilibrium. However, if the cost advantage is not too large, then the equilibrium research intensity and growth rate depend on the existence of the competitive fringe and take on the same values as in the standard solution. We discuss the departures from Pareto optimality and analyze the determination of the economy's rate of return and growth rate.
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Business cycles --- Circular velocity of money --- Inventories, Retail --- Overproduction --- Supply and demand --- Unemployment --- Econometric models --- Econometric models --- Econometric models --- Econometric models --- Econometric models --- Econometric models
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Wage formation --- Netherlands --- Wages --- Econometric models. --- Wages - Netherlands - Econometric models.
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Demand for money --- -Buffer stocks --- -Econometric models --- Econometric models
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