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Donald Trump's surprise election shifted expectations: corporate taxes would be lower and trade policies more restrictive. Relative stock prices responded appropriately. High-tax firms and those with large deferred tax liabilities (DTLs) gained; those with significant deferred tax assets from net...
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declining share of manufacturing employment in the United States, and second that recent productivity growth in manufacturing … has actually been quite rapid but is not accurately measured. The paper shows that for many decades, faster productivity … reversed and slower productivity growth in manufacturing has been associated with more robust performance in manufacturing …
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