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Credit Constraints, Competition, and Meritocracy

This paper studies a simple model of the talent-ownership mismatch-or failure of meritocracy-brought about by credit market imperfections that prevent the transfer of control over productive assets from the untalented rich to the talented poor. We present two main insights. First, there may be... Full description

1st Person: Caselli, Francesco
Additional Persons: Gennaioli, Nicola verfasserin
Source: in Journal of the European Economic Association Vol. 3, No. 2/3 (2005), p. 679-689
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Type of Publication: Article
Language: English
Published: 2005
Keywords: research-article
G3
O10
O47
Online: Volltext
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