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If you send a link to your paper and the data, I would be glad to give you a precise critique (if there is one.) I have the necessary econometrics background to do so. [quote user="process"] log(Yist)=φlog(MWst)+γ′Xist+μi+λit+τt+(epsilon)ist where i, s, and t refers to county, state and quarter of observation
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Price of Oil - Up Price of Copper - Up Price of Lumber - Up Price of Silver - Up Price of Gold - Up Price of Soybeans - Up Price of Euros - Up Price of labor -Unchanged, sticky Price of shipping- still low Price of consumer goods - still low Consumer goods should theoretically lag the most due to inflation after a recession, due to inventory buildup
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How is that any different from how it is now? If anything a commodity currency would destroy all other countries' currencies as they would look like shit schemes in comparison. The market would adjust very quickly to get the forex crosses in line.