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README.md

Code to Replicate Manuelli/Seshadri (2014 AER)

Note: The code is only correct for the case where schooling and job training share the same technology and where p_w > p_s. If p_w < p_s, there is a phase with n = 1 at the start of job training. The model does not handle this case.


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Manuelli and Seshadri, Human capital and the wealth of nations, AER 2014

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