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Details about Leonard I. Nakamura

Workplace:Research Department, Federal Reserve Bank of Philadelphia, (more information at EDIRC)

Access statistics for papers by Leonard I. Nakamura.

Last updated 2024-03-06. Update your information in the RePEc Author Service.

Short-id: pna565


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Working Papers

2023

  1. Climate Shocks in the Anthropocene Era: Should Net Domestic Product Be Affected by Climate Disasters
    Working Papers, Federal Reserve Bank of Philadelphia Downloads
  2. The Increasing Pace of Weather-Related Cost Shocks: Should Net Domestic Product be Affected by Climate Disasters?
    BEA Papers, Bureau of Economic Analysis Downloads

2022

  1. Is GDP Becoming Obsolete? The 'Beyond GDP' Debate
    Working Papers, Federal Reserve Bank of Philadelphia Downloads
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2022) Downloads View citations (2)

2020

  1. Evidence of Accelerating Mismeasurement of Growth and Inflation in the U.S. in the 21st Century
    Working Papers, Federal Reserve Bank of Philadelphia Downloads
    Also in Economic Statistics Centre of Excellence (ESCoE) Discussion Papers, Economic Statistics Centre of Excellence (ESCoE) (2020) Downloads View citations (3)
  2. Expanded GDP for Welfare Measurement in the 21st Century
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (2)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2019) Downloads View citations (4)

    See also Chapter Expanded GDP for Welfare Measurement in the 21st Century, NBER Chapters, National Bureau of Economic Research, Inc (2020) Downloads View citations (2) (2020)
  3. “Don’t Know What You Got Till It’s Gone”—The Community Reinvestment Act in a Changing Financial Landscape
    Working Papers, Federal Reserve Bank of Philadelphia Downloads

2019

  1. Toward a Framework for Time Use, Welfare, and Household Centric Economic Measurement
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (2)
    Also in Economic Statistics Centre of Excellence (ESCoE) Discussion Papers, Economic Statistics Centre of Excellence (ESCoE) (2019) Downloads View citations (3)

2018

  1. Appraising Home Purchase Appraisals
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (2)
    Also in Working Papers, Federal Reserve Bank of Philadelphia (2017) Downloads View citations (6)

    See also Journal Article Appraising home purchase appraisals, Real Estate Economics, American Real Estate and Urban Economics Association (2021) Downloads View citations (2) (2021)
  2. “Free” Internet Content: Web 1.0, Web 2.0, and the Sources of Economic Growth
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (4)

2017

  1. Accounting for Growth in the Age of the Internet The Importance of Output-Saving Technical Change
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (6)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2017) Downloads View citations (14)
  2. Measuring the Free Digital Economy within the GDP and Productivity Accounts
    BEA Working Papers, Bureau of Economic Analysis Downloads View citations (7)
    Also in Economic Statistics Centre of Excellence (ESCoE) Discussion Papers, Economic Statistics Centre of Excellence (ESCoE) (2017) Downloads View citations (1)
    Working Papers, Federal Reserve Bank of Philadelphia (2017) Downloads View citations (1)
  3. “Don't Know What You Got Till It’s Gone” — The Effects of the Community Reinvestment Act (CRA) on Mortgage Lending in the Philadelphia Market
    Working Papers, Federal Reserve Bank of Philadelphia Downloads

2016

  1. Credit Ratings, Private Information, and Bank Monitoring Ability
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (6)
    See also Journal Article Credit ratings, private information, and bank monitoring ability, Journal of Financial Intermediation, Elsevier (2018) Downloads View citations (10) (2018)
  2. Valuing Free Media in GDP: An Experimental Approach
    BEA Working Papers, Bureau of Economic Analysis Downloads View citations (6)
    Also in Working Papers, Federal Reserve Bank of Philadelphia (2016) Downloads View citations (4)

2015

  1. Creativity and economic growth: theory, measures, and potentials for morocco
    Working Papers, Federal Reserve Bank of Philadelphia Downloads
  2. House-price expectations, alternative mortgage products, and default
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (1)
    Also in Working Papers, Federal Reserve Bank of Philadelphia (2013) Downloads View citations (1)

    See also Journal Article House‐Price Expectations, Alternative Mortgage Products, and Default, Journal of Money, Credit and Banking, Blackwell Publishing (2016) Downloads View citations (10) (2016)
  3. Information losses in home purchase appraisals
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (8)
  4. The impact of the home valuation code of conduct on appraisal and mortgage outcomes
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (3)
    Also in Working Papers, Federal Reserve Bank of Philadelphia (2014) View citations (1)

    See also Journal Article The Impact of the Home Valuation Code of Conduct on Appraisal and Mortgage Outcomes, Real Estate Economics, American Real Estate and Urban Economics Association (2016) Downloads View citations (18) (2016)
  5. The system of national accounts and alternative economic perspectives
    Working Papers, Federal Reserve Bank of Philadelphia Downloads
  6. Valuing “free” media across countries in GDP
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (1)

2014

  1. Should defaults be forgotten? Evidence from variation in removal of negative consumer credit information
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (4)
  2. Sourcing substitution and related price index biases
    Working Papers, Federal Reserve Bank of Philadelphia View citations (8)

2013

  1. Credit ratings and bank monitoring ability
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (3)
    Also in Other publications TiSEM, Tilburg University, School of Economics and Management (2010) Downloads View citations (4)
    Working Papers, Federal Reserve Bank of Philadelphia (2010) Downloads View citations (8)
    Discussion Paper, Tilburg University, Center for Economic Research (2010) Downloads View citations (4)
    Other publications TiSEM, Tilburg University, School of Economics and Management (2010) Downloads View citations (4)

2012

  1. Building the Innovation Union: Lessons from the 2008 Financial Crisis
    Working Papers, Federal Reserve Bank of Philadelphia Downloads
  2. Durable financial regulation: monitoring financial instruments as a counterpart to regulating financial institutions
    Working Papers, Federal Reserve Bank of Philadelphia Downloads
    Also in Working Papers, Federal Reserve Bank of Philadelphia (2010) View citations (1)
    NBER Working Papers, National Bureau of Economic Research, Inc (2011) Downloads View citations (2)

    See also Chapter Durable Financial Regulation: Monitoring Financial Instruments as a Counterpart to Regulating Financial Institutions, NBER Chapters, National Bureau of Economic Research, Inc (2014) Downloads View citations (1) (2014)
  3. Should defaults be forgotten? Evidence from legally mandated removal
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (4)

2011

  1. Credit Cycle and Adverse Selection Effects in Consumer Credit Markets – Evidence from the HELOC Market
    Discussion Paper, Tilburg University, Center for Economic Research Downloads View citations (5)
    Also in Other publications TiSEM, Tilburg University, School of Economics and Management (2011) Downloads View citations (6)
    Working Papers, Federal Reserve Bank of Philadelphia (2011) Downloads View citations (6)
    Other publications TiSEM, Tilburg University, School of Economics and Management (2011) Downloads View citations (6)
  2. Subprime mortgages and the housing bubble
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (1)
    See also Journal Article Subprime mortgages and the housing bubble, Journal of Urban Economics, Elsevier (2012) Downloads View citations (52) (2012)

2009

  1. Intangible assets and national income accounting: measuring a scientific revolution
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (1)

2008

  1. Intangible assets and national income accounting
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (3)
    See also Journal Article INTANGIBLE ASSETS AND NATIONAL INCOME ACCOUNTING, Review of Income and Wealth, International Association for Research in Income and Wealth (2010) Downloads View citations (26) (2010)
  2. Rents have been rising, not falling, in the postwar period
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (5)
    See also Journal Article Rents Have Been Rising, Not Falling, in the Postwar Period, The Review of Economics and Statistics, MIT Press (2010) Downloads View citations (18) (2010)

2007

  1. Mismeasured personal saving and the permanent income hypothesis
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (6)

2006

  1. Bench Mark Revisions and the U.S. Personal Saving Rate
    2006 Meeting Papers, Society for Economic Dynamics Downloads
    Also in Working Papers, Federal Reserve Bank of Philadelphia (2005) Downloads View citations (2)
  2. National income accounts
    Working Papers, Federal Reserve Bank of Philadelphia Downloads
  3. The CPI for rents: a case of understated inflation
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (7)
    Also in Working Papers, Federal Reserve Bank of Philadelphia (2004) Downloads View citations (1)
  4. The Democratization of U.S. Research and Development after 1980
    2006 Meeting Papers, Society for Economic Dynamics Downloads

2005

  1. Advertising, intangible assets, and unpriced entertainment
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (3)
  2. Transactions accounts and loan monitoring
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (5)
    Also in Working Papers, Federal Reserve Bank of Philadelphia (2004) Downloads View citations (4)

    See also Journal Article Transactions Accounts and Loan Monitoring, The Review of Financial Studies, Society for Financial Studies (2007) Downloads View citations (87) (2007)

2004

  1. Hedonic estimates of the cost of housing services: rental and owner-occupied units
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (14)

2002

  1. Checking Accounts and Bank Monitoring
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania Downloads View citations (15)
    Also in Working Papers, Federal Reserve Bank of Philadelphia (1998) Downloads View citations (33)
    Working Papers, Federal Reserve Bank of Philadelphia (2001) View citations (15)

2001

  1. Banking and finance in Argentina in the period 1900-35
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (2)
    Also in Center for Latin America Working Papers, Federal Reserve Bank of Dallas (2001) Downloads View citations (1)
    Working Papers, Federal Reserve Bank of Dallas (2001) Downloads
  2. Education and training in an era of creative destruction
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (1)
  3. Measuring American rents: a revisionist history
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (4)
  4. What is the U.S. gross investment in intangibles? (At least) one trillion dollars a year!
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (17)

1999

  1. Measuring housing services inflation
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (11)
    Also in Working Papers, Federal Reserve Bank of Philadelphia (1998) Downloads

1998

  1. Measurement of retail output and the retail revolution
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (4)
    Also in Working Papers, Federal Reserve Bank of Philadelphia (1997) Downloads View citations (2)

    See also Journal Article The measurement of retail output and the retail revolution, Canadian Journal of Economics, Canadian Economics Association (1999) Downloads View citations (17) (1999)

1997

  1. Economic growth in Argentina in the period 1900-30: some evidence from stock returns
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (3)

1995

  1. Branch banking and the geography of bank pricing
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (6)
    Also in Working Papers, Federal Reserve Bank of Philadelphia (1994) View citations (1)

    See also Journal Article Branch Banking And The Geography Of Bank Pricing, The Review of Economics and Statistics, MIT Press (1998) Downloads View citations (27) (1998)
  2. Is U.S. economic performance really that bad?
    Working Papers, Federal Reserve Bank of Philadelphia View citations (1)
  3. New directions in information and screening in real estate finance
    Working Papers, Federal Reserve Bank of Philadelphia

1994

  1. Information and screening in real estate finance: an introduction
    Working Papers, Federal Reserve Bank of Philadelphia View citations (2)

1993

  1. Loan screening within and outside of customer relationships
    Working Papers, Federal Reserve Bank of Philadelphia View citations (28)
  2. Recent research in commercial banking: information and lending
    Working Papers, Federal Reserve Bank of Philadelphia View citations (40)
  3. The impact of branch banking on pricing and service availability: theory and evidence
    Working Papers, Federal Reserve Bank of Philadelphia View citations (1)

1992

  1. Bank branching
    Working Papers, Federal Reserve Bank of Philadelphia
  2. \"Flight to quality\" in bank lending and economic activity
    Working Papers, Federal Reserve Bank of Philadelphia View citations (6)

1991

  1. Commercial bank information: implications for the structure of banking
    Working Papers, Federal Reserve Bank of Philadelphia View citations (6)
  2. Delegating monitoring with diseconomies of scale
    Working Papers, Federal Reserve Bank of Philadelphia
  3. Housing appraisals and redlining
    Working Papers, Federal Reserve Bank of Philadelphia
  4. Optimal acceptance policies for journals
    Working Papers, Federal Reserve Bank of Philadelphia
  5. Worker debt with bankruptcy
    Working Papers, Federal Reserve Bank of Philadelphia View citations (1)

1990

  1. Optimal bank closure for deposit insurers
    Working Papers, Federal Reserve Bank of Philadelphia
  2. Reforming deposit insurance when banks conduct loan workouts and runs are possible
    Working Papers, Federal Reserve Bank of Philadelphia

1989

  1. Entry-deterring debt
    Working Papers, Federal Reserve Bank of Philadelphia View citations (4)
    See also Journal Article Entry-Deterring Debt, Journal of Money, Credit and Banking, Blackwell Publishing (1992) Downloads View citations (5) (1992)
  2. Learning in the marketplace: free entry is free riding
    Working Papers, Federal Reserve Bank of Philadelphia
  3. Loan workouts and commercial bank information: why banks are special
    Working Papers, Federal Reserve Bank of Philadelphia View citations (5)
  4. The dynamics of credit markets in a model with learning
    Working Papers, Federal Reserve Bank of Philadelphia
    See also Journal Article The dynamics of credit markets in a model with learning, Journal of Monetary Economics, Elsevier (1990) Downloads View citations (17) (1990)

1988

  1. Information losses in a dynamic model of credit
    Working Papers, Federal Reserve Bank of Philadelphia
    See also Journal Article Information Losses in a Dynamic Model of Credit, Journal of Finance, American Finance Association (1989) Downloads View citations (8) (1989)

Journal Articles

2022

  1. Time Use, Productivity, and Household-centric Measurement of Welfare in the Digital Economy
    International Productivity Monitor, 2022, 42, 165-186 Downloads

2021

  1. Appraising home purchase appraisals
    Real Estate Economics, 2021, 49, (S1), 134-168 Downloads View citations (2)
    See also Working Paper Appraising Home Purchase Appraisals, Working Papers (2018) Downloads View citations (2) (2018)

2018

  1. Credit ratings, private information, and bank monitoring ability
    Journal of Financial Intermediation, 2018, 36, (C), 58-73 Downloads View citations (10)
    See also Working Paper Credit Ratings, Private Information, and Bank Monitoring Ability, Working Papers (2016) Downloads View citations (6) (2016)

2017

  1. Improving the Treatment of Holding Gains and Default Losses in National Accounts
    Review of Income and Wealth, 2017, 63, S321-S354 Downloads View citations (3)

2016

  1. House‐Price Expectations, Alternative Mortgage Products, and Default
    Journal of Money, Credit and Banking, 2016, 48, (1), 81-112 Downloads View citations (10)
    See also Working Paper House-price expectations, alternative mortgage products, and default, Working Papers (2015) Downloads View citations (1) (2015)
  2. The Impact of the Home Valuation Code of Conduct on Appraisal and Mortgage Outcomes
    Real Estate Economics, 2016, 44, (3), 658-690 Downloads View citations (18)
    See also Working Paper The impact of the home valuation code of conduct on appraisal and mortgage outcomes, Working Papers (2015) Downloads View citations (3) (2015)

2014

  1. Brewing bubbles: how mortgage practices intensify housing booms
    Business Review, 2014, (1), 16-24 Downloads
  2. Hidden value: how consumer learning boosts output
    Business Review, 2014, (Q3), 9-14 Downloads View citations (2)

2013

  1. What you don’t know can hurt you: keeping track of risks in the financial system
    Business Review, 2013, (Q1), 21-29 Downloads

2012

  1. Subprime mortgages and the housing bubble
    Journal of Urban Economics, 2012, 71, (2), 230-243 Downloads View citations (52)
    See also Working Paper Subprime mortgages and the housing bubble, Working Papers (2011) Downloads View citations (1) (2011)

2011

  1. Price dynamics, retail chains and inflation measurement
    Journal of Econometrics, 2011, 161, (1), 47-55 Downloads View citations (34)
  2. Wal-Mart innovation and productivity: a viewpoint
    Canadian Journal of Economics, 2011, 44, (2), 486-508 Downloads View citations (6)
    Also in Canadian Journal of Economics/Revue canadienne d'économique, 2011, 44, (2), 486-508 (2011) Downloads View citations (3)

2010

  1. How much is that home really worth? Appraisal bias and house-price uncertainty
    Business Review, 2010, (Q1), 11-22 Downloads View citations (14)
  2. INTANGIBLE ASSETS AND NATIONAL INCOME ACCOUNTING
    Review of Income and Wealth, 2010, 56, (s1), S135-S155 Downloads View citations (26)
    See also Working Paper Intangible assets and national income accounting, Working Papers (2008) Downloads View citations (3) (2008)
  3. Rents Have Been Rising, Not Falling, in the Postwar Period
    The Review of Economics and Statistics, 2010, 92, (3), 628-642 Downloads View citations (18)
    See also Working Paper Rents have been rising, not falling, in the postwar period, Working Papers (2008) Downloads View citations (5) (2008)

2009

  1. The housing bubble and a new approach to accounting for housing in a CPI
    Journal of Housing Economics, 2009, 18, (3), 156-171 Downloads View citations (36)

2008

  1. The mismeasured personal saving rate is still useful: using real-time data to improve forecasting
    Business Review, 2008, (Q4), 9-20 Downloads View citations (1)
  2. What does the Philadelphia Fed's Business Outlook Survey say about local activity?
    Research Rap Special Report, 2008, (Dec) Downloads View citations (2)

2007

  1. Gimme shelter! rents have risen, not fallen, since World War II
    Business Review, 2007, (Q2), 25-33 Downloads View citations (1)
  2. Transactions Accounts and Loan Monitoring
    The Review of Financial Studies, 2007, 20, (3), 529-556 Downloads View citations (87)
    See also Working Paper Transactions accounts and loan monitoring, Working Papers (2005) Downloads View citations (5) (2005)

2005

  1. Underestimating advertising: innovation and unpriced entertainment
    Business Review, 2005, (Q4), 21-29 Downloads

2004

  1. CEOs, clerks, computers, and the rise of competition in the late 20th century
    Business Review, 2004, (Q3), 33-41 Downloads

2003

  1. Let a hundred flowers bloom! Decentralization and innovation
    Business Review, 2003, (Q1), 21-33 Downloads

2001

  1. Investing in intangibles: is a trillion dollars missing from the GDP?
    Business Review, 2001, (Q4), 27-36 Downloads View citations (6)

2000

  1. Economics and the new economy: the invisible hand meets creative destruction
    Business Review, 2000, (Jul), 15-30 Downloads View citations (9)

1999

  1. Intangibles: what put the new in the new economy?
    Business Review, 1999, (Jul), 3-16 Downloads View citations (23)
  2. The measurement of retail output and the retail revolution
    Canadian Journal of Economics, 1999, 32, (2), 408-425 Downloads View citations (17)
    See also Working Paper Measurement of retail output and the retail revolution, Working Papers (1998) Downloads View citations (4) (1998)

1998

  1. Branch Banking And The Geography Of Bank Pricing
    The Review of Economics and Statistics, 1998, 80, (4), 600-610 Downloads View citations (27)
    See also Working Paper Branch banking and the geography of bank pricing, Finance and Economics Discussion Series (1995) View citations (6) (1995)
  2. The retail revolution and food-price mismeasurement
    Business Review, 1998, (May), 3-14 Downloads View citations (2)

1997

  1. Is the U.S. economy really growing too slowly?
    Business Review, 1997, (Mar), 3-14 Downloads View citations (1)

1996

  1. Introduction: New Directions in Information and Screening in Real Estate Finance
    The Journal of Real Estate Finance and Economics, 1996, 13, (1), 5-10

1995

  1. 'Flight to quality' in banking and economic activity
    Journal of Monetary Economics, 1995, 36, (1), 145-164 Downloads View citations (58)
  2. Measuring inflation in a high-tech age
    Business Review, 1995, (Nov), 13-25 Downloads View citations (4)

1994

  1. Information and screening in real estate finance: an introduction, cosponsored by the Journal of real estate finance and economics and the Federal Reserve Bank of Philadelphia, March 3-4, 1994
    Proceedings, 1994 View citations (1)
  2. Small borrowers and the survival of the small bank: is mouse bank Mighty or Mickey?
    Business Review, 1994, (Nov), 3-15 Downloads View citations (30)

1993

  1. A Model of Redlining
    Journal of Urban Economics, 1993, 33, (2), 223-234 Downloads View citations (70)
  2. Information externalities: why lending may sometimes need a jump start
    Business Review, 1993, (Jan), 3-14 Downloads View citations (6)

1992

  1. Entry-Deterring Debt
    Journal of Money, Credit and Banking, 1992, 24, (1), 98-110 Downloads View citations (5)
    See also Working Paper Entry-deterring debt, Working Papers (1989) View citations (4) (1989)

1991

  1. Lessons on lending and borrowing in hard times
    Business Review, 1991, (Jul), 13-21 Downloads View citations (1)

1990

  1. Closing troubled financial institutions: what are the issues?
    Business Review, 1990, (May), 15-24 Downloads View citations (2)
  2. The dynamics of credit markets in a model with learning
    Journal of Monetary Economics, 1990, 26, (2), 305-318 Downloads View citations (17)
    See also Working Paper The dynamics of credit markets in a model with learning, Working Papers (1989) (1989)

1989

  1. Information Losses in a Dynamic Model of Credit
    Journal of Finance, 1989, 44, (3), 731-746 Downloads View citations (8)
    See also Working Paper Information losses in a dynamic model of credit, Working Papers (1988) (1988)

Chapters

2020

  1. Expanded GDP for Welfare Measurement in the 21st Century
    A chapter in Measuring and Accounting for Innovation in the Twenty-First Century, 2020, pp 19-59 Downloads View citations (2)
    See also Working Paper Expanded GDP for Welfare Measurement in the 21st Century, Federal Reserve Bank of Philadelphia (2020) Downloads View citations (2) (2020)

2014

  1. Durable Financial Regulation: Monitoring Financial Instruments as a Counterpart to Regulating Financial Institutions
    A chapter in Measuring Wealth and Financial Intermediation and Their Links to the Real Economy, 2014, pp 67-88 Downloads View citations (1)
    See also Working Paper Durable financial regulation: monitoring financial instruments as a counterpart to regulating financial institutions, Federal Reserve Bank of Philadelphia (2012) Downloads (2012)

1980

  1. Energy and Pollution Effects on Productivity: A Putty-Clay Approach
    A chapter in New Developments in Productivity Measurement and Analysis, 1980, pp 463-506 Downloads View citations (5)
 
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