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This paper investigates the role of three likely factors in driving the steady deterioration of the US external balance: US technology developments, changes in the US government fiscal position and the Fed’s monetary policy. Estimating several Vector Autoregressions on US data over the period...
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The research explores the effect of industrialization on human capital formation. Exploiting exogenous regional … views early industrialization as a predominantly deskilling process, the industrial revolution was conducive for human …
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