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...
[The level of productivity will presumably undergo a one-time downward
adjustment as our economy responds to higher levels of perceived risk. But once
the adjustment is completed, productivity growth should resume at rates in
excess of those that prevailed in the quarter-century preceding 1995.]
...
[From
Testimony of Chairman Alan Greenspan<FONT
size=2>Monetary policy and economic outlookBefore
the Joint Economic Committee, U.S. House of Representatives October 17,2001
]
Dimitris Tsokakis
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