ii-ie oofd 2ivmdvi d vi4d the - nber...1".atflsvs rluoilt1a ataimonoos minis ot bnntaisbnu...
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![Page 1: II-IE OOFD 2IVMDVI D VI4D tHE - NBER...1".atflsVs rluoilt1A ataimonoos minis ot bnntaisbnu 'nsm atosqas lb sib lnsmqolsvsb lo 'çitioqmstnoo aoirnonoos isrlt siulinl ot sbivcnq n lnsisdoo](https://reader033.vdocuments.mx/reader033/viewer/2022060813/6091d05d04f82c6d1c017643/html5/thumbnails/1.jpg)
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bsvloanu tssi silt Io sno an aOEQl sib lo noiaasqsb silt issil ol sun nos anshotaill
ti isrll nina d aiqot silt no Aood all anoqo ItfitinO niloL .'çwtno3 illO sill 1o asFista'm
bstnlsi tud stnmqsa lo isdmun stinilni tin to bsaoqmoo nonsmorisrlq sbiwbhow n
lo lnsmqolsvsb sib lb atosqas 'nsm bnntaisbnu ot minis ataimonoos rluoilt1A 1".atflsVs
tssi{I) sib iol noiiRnslqxs lnsisdoo n sbivcnq ot siulinl isrlt aoirnonoos 'çitioqmstnoo
aidT .aulnmqqs inutqsonoo risill lb anoiistimi! sill a'(niisd wsiv aiib ot nibrooon noiaasiqsCJ
silt iol noilnnniqxs tnstaianoo £ no ssrn ot noiaasloiq asimonoos silt lb 'ctilidnni sldianstao
sill lb asibuta inoholaiil lo eros silt In qs n asvnsl asmil nisbom lo istanaib otmonoos lnnia
sirnonoos lb atnsmintani sib lb noilu!ovs silt Insm'oIqmsnu aanm lb asonsupsanoo Isiooa
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bus aoimonoos iii qiilatsiorloa lo sinla silt lo anibnntaisbnuairn s a'nitsd wsiv alIT
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'oIoobi oil) bnA .yrnonooo bliow orb iii aonEr1z) ot aO$Q1 orb gnimb tqabs ot boIui1a
'1no tsr!) ano Os oAst ot aio!sm oi!oq ho! bisbnsla b1o orb lo oiiolorh hiss &tilfiJfIom
bhow orb Aobl ol bounilnos aio!nsd !sflnoD .eOEQ I orb ni aasi)aib Dimon000 bolrnJtn033s
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naom ow 1ithtnom yd .otsta noilan orb lo oaqiloo orb baa ,aoiflloq aasni oawoaaib àfl1s)nom
-b!o OHT .oldiaaoq silt lo anobon iiorb boqarla iloidw ealo!sm 'i1oq 10 lea bnirn Isiooa edt
o!clsiiaob hiss oldiasol lo anoiiqoonoa aoiisioqmotnoo boqsda 11uhowoq tiIstnom bithnsta
'd bonislaisa bns bolsixo isno! on )srb bhow s rbiw oqoo oi beqolovoU .aoi3iIOq oirrlon030
tarnlanoa Isuloollolni air!) 1necnnobnsds ali bogsiuooaib lath) aemaaoiq Isanuloq bns !siooa
.orlqoiiastso oiirnon000 iol eldianoqasi 1htooiib 513W doxdw asanoqaoi '(oxIoq bsnwsqa
lo 'ti1ida orb botimil borsoqqua Ii anoitiflitani baa anoitos orb hiss 'ti1stnom air!T
110111 obsin lath aoioi!oq bodhoaoiq baa ttiaiovbs ot bnoqaoi ot alnscl Iwitnoo hiss atnorritnovog
blog hiss atiollob atnem'sq lo eons!sd ot oanoqaoi nI .iotlod lo bsstarii 0210W noitthnoo
lo Isog orb rhiw tibolo gnitoiilaoi monooo orb otaflob 1no bluoo atnomniovo aoaao!
sitU ol !soitnD .boiotaoi 25W oonslsd !snoxtsmolni litnu alaoo bins aeonq odsomob gniouboi
msdnofl .D3 aA .ataoo ni Inornolo Isogmi orb aogaw eouboi ol tiollo orb asw aeoooiq
I €21 ni gnibnalatobriu Isnoilnovnoo orb bosiwnrnua
!snoitsniotni rnolasi nso xior1t oisi ?lnsd iorhgirl orb io blog lo aaol silT"
as lnshoqrni isom orb oaodt 10 .aoonq Isrnotni gnioubsi 1(d 1no rnuiidiliupo .booubrn od 'sm modsi mail aomoOni iorbo bns aogsW .iuodal lo ooiiq or!)
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od Iliw thoqml .2ontwbni tioqxs nibuloni oh1aubni Its ni booubo od Iliw E oormlsd oom oono 2wofl owl orb !ilriu bolsiumila atioqxo him bsloorlo
lo alo*mm ocisl bosi3ililoq him bomlomnia 'Iw1ias51oni or!) ni lull asw moldoiq omiT
ioclsl lo 1ibiufl silT .bsaaoaaoq oono 'oth ')ilidixofl oil) bstsl aosw bohoq mwiolni sri)
bus 2)0)1mm todsl Ismolni lo iIlwotg or!) inainoinu lo bsoiqa oil) 'd bolimil 2BW a)aoo
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lo aaonauoioanoo orb ohsnonoq Jon bib arnoldotq sasH) oaso yns nI .boiolaox od oh eonslsd
lo 'Oilidaaivbs oil) noi)aoup at bsauIoi oilw liktnom btsbnsla-b!oR oil) o) noblorlod oaoill
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orb him '(oiloq oxlduq iothsm Irnonsnil no iosqmi orb ot iooi eoitiloq aanM
.aoiilo !soiiiloq orb rmrb torbo aiolon lo oonouflrn him aobuiifls enobos orb lo iloaJi noiaaotqoCI
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viol fisH 2oiE1 lasisirli beaist aAnsd 15111103 norfw tnocn'(olqmonu boiollua oily atotow orb mW
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lsxooa orb bonovdua aoas1o nirnso him gnulaovni orb lo arioitiaoq orb ni Iuirla airiT .aoinsq
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orb nisiIids1aob 'ononuo orb grlisiliclElaob bsorxuoq to±mm orb ebolstia&ii 'oth oonO
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betinlJ orb ni atrieve ni noieetqeG edt lo aeauso edt trluoa evsd ataimonoce bits anthiotaid
edt betoe1en 'edt eausood 'iotos1ai1sa nsrlt 2251 nevotq sd doisee tiedT eetst2
nismob lznoitsmstni edt ni atneVe tsrlt tosl edt ai tsdt--qmula edt lo noianemib Isnoitsmetrii
otni bewol!cñ tsdt noiaaeoet 'cizriibio edt berinolanstt bits rnutnwob Q&Q1 edt icil e3sta edt tea
bits sJenom Isnoitsrnetni out lo griinoitornñ edt iii 'sl urieldmq edT t.noiaaeiqeb tseig s
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ol nib-iooos aOEQl 'liso orb ni los ol bsunilnoo bs orb lull bolsovoi asH tow lnoooi moM
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