R. Anton Braun and Tomoyuki Nakajima
Working Paper 2011-13 (November)
The responsiveness of consumption growth to changes in expected interest rates plays a central role in dynamic decision making. The authors provide some new evidence that this elasticity is small.
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Japan's March triple-whammy, with the earthquake, tsunami, and nuclear crisis, took a horrific human toll and shook up economies around the world. Read how this exogenous shock disrupted the manufacturing sector in the United States.
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The manufacturing base that used to exist in the South has withered as textiles and other low-value producers have gone overseas. The region has been able to shore up its manufacturing base, but challenges to the sector remain, and surmounting them will require further innovation.
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