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Abstract This paper uses a multicountry macroeconometric model to estimate the macroeconomic effects of a Chinese yuan appreciation against the U.S. dollar. The estimated effects on U.S. output and employment are modest. Positive effects on U.S. output are roughly offset by negative effects from...
Abstract In this paper, we evaluate a new proposal to stimulate recovery from the current recession: a temporary federal price discount on consumer goods. An attractive feature of the temporary federal discount program is that it gives consumers a price incentive to purchase more rather than...
Abstract In the Great Recession, the automotive industry has been one of the hardest hit sectors, along with the housing and financial industries. As the largest and most cyclical consumer spending sector, the automotive sector has historically been important for economic recovery after every...
Abstract Excessive household debt contributed to the worst recession in decades. Insights about borrowing and spending behavior can inform economic recovery forecasts, policy decisions, and financial education. This study identifies life cycle and credit attitude as key determinants of who uses...
Abstract “Rational economic agents” making optimal choices, such as shifting to less expensive products, is a fundamental paradigm for theoretical and applied economics. This requires accurate and unbiased economic information on prices. Since the mid-1990s, several nations have switched to...
Abstract World demand for refractory products—heat-resisting ceramic materials used in metal refining, glass making, and other high-temperature industrial applications—will be slowing down considerably from an annual rate of 10.8 percent during 2002–07 to 3.5 percent during 2007–12. Such slower...
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