Tuesday, November 15, 2011

menzie update

"export growth in the current recovery has been substantially greater from the trough than in the last three recoveries. "

xfig1.gif

", this characterization is less pronounced.. once one takes into account the severity of the drop-off in exports during the recession. (And is less than that observed in the recovery from the 1990Q3-91Q1 recession). "
xfig2.gif
" export growth ...after accounting for...import content in US exports (vertical specialization)".xfig3.gif