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2 “... and activity. To examine the first, we look at 122 recessions over the past 50 years in 23 countries. We find...”

3 “... and activity. To examine the first, we look at 122 recessions over the past 50 years in 23 countries. We find...”

4 “... been a key feature in the Philippines over the past 15 years. An analysis of the labor adjustments...”