The Dollar and U.S. Manufacturing - FEDERAL RESERVE BANK of NEW YORK

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Current Issues in Economics and Finance

The Dollar and U.S. Manufacturing

December 1998 Volume 4 Number 12

JEL classification: F4, E3, N6

Authors: Linda S. Goldberg and Keith Crockett

U.S. manufacturing industries are becoming increasingly sensitive to changes in the international value of the dollar. A look at recent studies of exchange rate effects on industry performance suggests that the 1997-98 rise in the dollar may significantly reduce U.S. producers' profits and compel firms to scale back their investment in new plants and equipment.

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6 pages / 63 kb

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