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The Cefa Brief

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  • ExplicativoIndustrial Policy

    Manufacturing employment and manufacturing output measure different things

    A country can make more while employing fewer people, and the federal series that track it will say so. This explains what each one counts and when each one is the right measure to cite.

  • ExplicativoDevelopment Finance

    What an offtake agreement does

    An offtake agreement is a promise to buy something that has not been made yet. By the end you will know what it changes for a lender, what it costs the seller, and what it leaves unsolved.