1-48. [9] Rachel, L. and Smith, T. (2017), “Are Low Real Interest Rates Here to Stay?”, International Journal of Central Banking, 13(3), pp. 142. [10] See Bernanke, B. (2005), “The Global Saving Glut and the U.S. Current Account Deficit”, Sandridge Lecture, Virginia Association of Economics, Richmond, Virginia, Federal Reserve Board, March. [11] Caballero, R., Farhi, E. and Gourinchas, P.-O.
Such investment was also stimulated by the growth of processing and assembly industries, such as electric machinery and automobiles, which involved many manufacturing firms. For a certain period after the end of World War II, there was a significant productivity gap, called the "dual structure," between large firms with high capital intensity and small firms with low capital intensity.