in The Review of Economic Studies
July 2011; p ublished online March 2011 .
Journal Article. Subjects: Information, Knowledge, and Uncertainy; Firm Objectives, Organization, and Behaviour; Mobility, Unemployment, and Vacancies; Market Structure, Firm Strategy, and Market Performance. 16055 words.
The “new classical” theory states that families in low-skill occupations with low levels of human capital can stay poor from one generation to the next, while families in high-skill...
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