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American assets average baby boom baby boomers Bank benefits budget catch-up century coefficients competitive contracts contribution convergence corporate costs current-account decades decrease reforms deficit developing countries dollar domestic economic growth effect efficient employment estimates European example exchange rate exports factors federal Figure firms fiscal foreign funding GATT global growth rates higher human capital important income increase industry inflation innovation inputs interest rates investment investors Japan Japanese labor liability reforms long-term mainframe manufacturing measured ment mode monetary policy multilateral nomic organizational output pension percent period physical capital plans political potential productivity growth programs projects put option real GDP reduce relative returns to scale risk savings sector share South Korea systematic risk Table tariffs technical progress tion trade U.S. dollars United United Kingdom variables wages workers World Bank
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