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tradable |
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The vast majority of these jobs do not require a college education, and they do not produce tradable goods and services that could be exported or substituted for imports. The number of tradable goods has risen sharply and many services have become tradable. Balassa (1964) and Samuelson (1964) argued that because technological progress tends to be concentrated in the production of internationally tradable goods, economies that experience sustained rapid technological progress, such as many emerging-market economies, should exhibit a long-term rising real exchange rate in terms of price indexes, such as consumer price indexes, that include |
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