Michele Ruta's Books

The Return of Industrial Policy in Data

By: Simon Evenett,Adam Jakubik,Fernando Martín,Michele Ruta

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The Return of Industrial Policy in Data

By: Simon Evenett,Adam Jakubik,Fernando Martín,Michele Ruta

This paper introduces the New Industrial Policy Observatory (NIPO) dataset and documents emergent patterns of policy intervention during 2023 associated with the return of industrial policy. The data show that the recent wave of new industrial policy activity is primarily driven by advanced economies, and that subsidies are the most employed instrument. Trade restrictions on imports and exports are more frequently used by emerging market and developing economies. Strategic competitiveness is the dominant motive governments give for these measures, but other objectives such as climate change, resilience and national security are on the rise. In exploratory regressions, we find that implemented measures are correlated with the past use of measures by other governments in the same sector, pointing to the tit-for-tat nature of industrial policy. Furthermore, domestic political economy factors and macroeconomic conditions correlate with the use of industrial policy measures. We intend for the NIPO to be a publicly available resource to help monitor the evolution and effects of industrial policies.

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International Monetary Fund

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ISBN 13

9798400260964

The Global Trade Slowdown

Cyclical or Structural?

By: Cristina Constantinescu,Aaditya Mattoo,Michele Ruta

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The Global Trade Slowdown

Cyclical or Structural?

By: Cristina Constantinescu,Aaditya Mattoo,Michele Ruta

This paper focuses on the sluggish growth of world trade relative to income growth in recent years. The analysis uses an empirical strategy based on an error correction model to assess whether the global trade slowdown is structural or cyclical. An estimate of the relationship between trade and income in the past four decades reveals that the long-term trade elasticity rose sharply in the 1990s, but declined significantly in the 2000s even before the global financial crisis. These results suggest that trade is growing slowly not only because of slow growth of Gross Domestic Product (GDP), but also because of a structural change in the trade-GDP relationship in recent years. The available evidence suggests that the explanation may lie in the slowing pace of international vertical specialization rather than increasing protection or the changing composition of trade and GDP.

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International Monetary Fund

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ISBN 10

1498303404

ISBN 13

9781498303408

Trade Spillovers of Domestic Subsidies

By: Lorenzo Rotunno,Michele Ruta

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Trade Spillovers of Domestic Subsidies

By: Lorenzo Rotunno,Michele Ruta

As governments resort to industrial policies to achieve economic and non-economic objectives, the number of subsidies implemented each year has more than tripled in the last decade. Using detailed data across a large number of advanced and emerging economies, we empirically investigate the effects of domestic subsidies on international trade flows. Estimates from a difference-in-difference specification show that on average subsidies promote both exports and imports. These effects are partly driven by selection into subsidies, as governments target export-oriented and import-competing products. The results however mask significant differences across countries. Specifically, exports of subsidized products from G20 emerging markets increase 8 percent more than exports of other products, with no evidence of selection. The gravity estimates confirm that subsidies promote international relative to domestic trade. These spillover effects are concentrated in some industries, such as electrical machinery, and are stronger when subsidies are given through tax breaks than other policy instruments. The subsidy-led rise in trade calls for international cooperation to manage risks of retaliatory actions and possible drifts towards a subsidy war.

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International Monetary Fund

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ISBN 13

9798400269486

Geo-Economic Fragmentation and the Future of Multilateralism

By: Mr. Shekhar Aiyar,Mr. Jiaqian Chen,Mr. Christian H Ebeke,Mr. Roberto Garcia-Saltos,Tryggvi Gudmundsson,Ms. Anna Ilyina,Mr. Alvar Kangur,Tansaya Kunaratskul,Mr. Sergio L. Rodriguez,Michele Ruta,Tatjana Schulze,Gabriel Soderberg,Mr. Juan P Trevino

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Geo-Economic Fragmentation and the Future of Multilateralism

After several decades of increasing global economic integration, the world is facing the risk of policy-driven geoeconomic fragmentation (GEF). This note explores the ramifications. It identifies multiple channels through which the benefits of globalization were earlier transmitted, and along which, conversely, the costs of GEF are likely to fall, including trade, migration, capital flows, technology diffusion and the provision of global public goods. It explores the consequences of GEF for the international monetary system and the global financial safety net. Finally, it suggests a pragmatic path forward for preserving the benefits of global integration and multilateralism

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International Monetary Fund

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ISBN 13

9798400229046

Global Value Chains and the Exchange Rate Elasticity of Exports

By: Mrs.Swarnali Ahmed Hannan,Maximiliano Appendino,Michele Ruta

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Global Value Chains and the Exchange Rate Elasticity of Exports

By: Mrs.Swarnali Ahmed Hannan,Maximiliano Appendino,Michele Ruta

This paper analyzes how the formation of Global Value Chains (GVCs) has affected the exchange rate elasticity of exports. Using a panel framework covering 46 countries over the period 1996-2012, we first find some suggestive evidence that the elasticity of real manufacturing exports to the Real Effective Exchange Rate (REER) has decreased over time. We then examine whether the formation of supply chains has affected this elasticity using different measures of GVC integration. Intuitively, as countries are more integrated in global production processes, a currency depreciation only improves competitiveness of a fraction of the value of final good exports. In line with this intuition, we find evidence that GVC participation reduces the REER elasticity of manufacturing exports by 22 percent, on average.

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International Monetary Fund

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ISBN 10

1513531794

ISBN 13

9781513531793

Fiscal Revenue Mobilization and Digitally Traded Products

Taxing at the Border Or Behind It?

By: Tibor Hanappi,Adam Jakubik,Michele Ruta

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Fiscal Revenue Mobilization and Digitally Traded Products

Taxing at the Border Or Behind It?

By: Tibor Hanappi,Adam Jakubik,Michele Ruta

Digitalization has the potential to bring great economic benefits, but it is also creating new challenges. This note focuses on trade in digitized products, its fiscal revenue implications, and the appropriate role for domestic and border tax instruments in this context. As digitized trade increases, in part replacing physical trade, developing countries that rely on tariff revenue to support fiscal capacity will face the difficult question of how best to tax these new trade flows and maintain fiscal balances. This note shows that, independently of the future trajectory of trade in digitized products, broad-based nondiscriminatory value-added taxes are preferrable to tariffs both from an economic efficiency and from a revenue standpoint. These taxes are also easier to implement and administer. In this context, the World Trade Organization (WTO) moratorium on customs duties on electronic transmission can help to effectively channel developing countries’ tax reform efforts in a more efficient direction. This transition would require further investment by the global community in modernizing the tax and customs infrastructure of developing countries to adequately meet revenue needs in the digital era.

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International Monetary Fund

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ISBN 13

9798400253614

Food Prices and the Multiplier Effect of Trade Policy

By: Paolo Giordani,Nadia Rocha,Michele Ruta

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Food Prices and the Multiplier Effect of Trade Policy

By: Paolo Giordani,Nadia Rocha,Michele Ruta

This paper studies the relationship between trade policy and food prices. We show that, when individuals are loss averse, governments may use trade policy to shield the domestic economy from large food price shocks. This creates a complementarity between the price of food in international markets and trade policy. Specifically, unilateral actions give rise to a "multiplier effect": when a shock drives up the price of food, exporters respond by imposing restrictions while importers wind down protection, thus exacerbating the initial shock and soliciting further trade policy activism. We test the key prediction of the theory with a new dataset that comprises monthly information on trade measures across 77 countries and 33 food products for the period 2008-11, finding evidence of a multiplier effect in food trade policy. These findings contribute to inform the broader debate on the proper regulation of food trade policy within the multilateral trading system.

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International Monetary Fund

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ISBN 10

1484327276

ISBN 13

9781484327272

Capital Flow Deflection

By: Paolo Giordani,Michele Ruta,Hans Weisfeld,Ling Zhu

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Capital Flow Deflection

By: Paolo Giordani,Michele Ruta,Hans Weisfeld,Ling Zhu

This paper focuses on the coordination problem among borrowing countries imposing controls on capital infl ows. In a simple model of capital flows and controls, we show that inflow restrictions distort international capital flows to other countries and that, in turn, such capital flow deflection may lead to a policy response. We then test the theory using data on inflow restrictions and gross capital inflows for a large sample of developing countries between 1995 and 2009. Our estimation yields strong evidence that capital controls deflect capital flows to other borrowing countries with similar economic characteristics. Notwithstanding these strong cross-border spillover effects, we do not find evidence of a policy response.

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International Monetary Fund

Published Date

ISBN 10

1498383203

ISBN 13

9781498383202

Industrial Policy

Trade Policy and World Trade Organization Considerations in IMF Surveillance

By: Mr. Brad J. McDonald,Michele Ruta,Ms. Elizabeth Van Heuvelen

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Industrial Policy

Trade Policy and World Trade Organization Considerations in IMF Surveillance

By: Mr. Brad J. McDonald,Michele Ruta,Ms. Elizabeth Van Heuvelen

With the use and complexity of industrial policy rising, along with the need for active policies to address climate, food, health, and other emergencies, IMF staff are often expected to provide policy and technical advice on trade-related industrial policies to national authorities. This note aims to support country teams with staff guidance, useful questions for engagement with national authorities, and resources on trade related aspects of industrial policies.

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International Monetary Fund

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ISBN 13

9798400271069

Trading with Friends in Uncertain Times

By: Adam Jakubik,Michele Ruta

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Trading with Friends in Uncertain Times

By: Adam Jakubik,Michele Ruta

In this paper we seek to answer the question of how the patterns of bilateral trade are altered by rising trade policy uncertainty (TPU). Specifically, we investigate whether geopolitical alignments between country pairs determine how bilateral trade flows react during periods of greater uncertainty. Using a structural gravity framework augmented with a text-based TPU index and a geopolitical distance measure based on UN General Assembly voting records, we find a significant negative effect of the latter when TPU is elevated, indicating a shift to trading among “friends” in uncertain times.

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International Monetary Fund

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ISBN 13

9798400244698

Conflicts of the Heart

By: Julie Michele Gettys

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Conflicts of the Heart

By: Julie Michele Gettys

After divorcing her controlling husband, Dana Claiborne is free to raise her five-year-old autistic son and pursue a career in hospital administration. Her true struggle for survival will come when she returns to her hometown, Ashton, California. It’s there she must deal with an envious high school friend that intends to destroy Dana’s new life and career, not to mention a romance with Patrick Mitchell. Patrick Mitchell is a union negotiator for the Professional Nurses Association. He needs his contract for the nurses at Templeton Medical Center so he can return to New York, grab that big job he’s been working toward, and be with his twelve-year-old daughter, who has been the center of a nasty custody battle. Patrick sees Dana as an attractive and vulnerable woman, whom he believes will capitulate and make his getting the contract a snap. When he puts her mettle to the test, he finds out he has met his match. It's not until he meets her autistic son and makes an immediate and uncanny connection that a romance blossoms between Dana and Patrick. A forbidden romance that could ruin both of their careers. Can Dana find the strength within her to fight the onslaught of battles set before her? Is she willing to risk everything, including a man whose she ultimately finds surprisingly wonderful to save her son?

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266

Publisher

Mitchell Morris Publishing

Published Date

ISBN 10

1937629406

ISBN 13

9781937629403

Fodor's 2010 Cancun, Cozumel & the Yucatan Peninsula

By: Michele Joyce,Coco Krumme,Marlise Kast

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Fodor's 2010 Cancun, Cozumel & the Yucatan Peninsula

By: Michele Joyce,Coco Krumme,Marlise Kast

Discusses sightseeing, beaches, dining, and accommodations

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354

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Fodors Travel Publications

Published Date

ISBN 10

140000845X

ISBN 13

9781400008452

Mundunur: A Mountain Village Under the Spell of South Italy

By: Michele Antonio Di Marco

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Mundunur: A Mountain Village Under the Spell of South Italy

By: Michele Antonio Di Marco

Montenero Val Cocchiara is usually referred to simply as Montenero, or Mundunur in the local dialect. Montenero is a typical mountain village on the border of the Abruzzo and Molise regions, but it is more than that. Its history was tinted by contacts with numerous powerful groups over many centuries. The village and its people prove to be unique, but they also are highly embued with elements common to all in South Italy. Of course it is the hope of the author that anyone with roots in South Italy will benefit from reading this book. However, his much greater aspiration is that others will equally enjoy the story of Montenero as a metaphor of their own ancestral village or town, regardless of country or even see the village as a microcosm of the world where the forces of history and culture forge the character of people.

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337

Publisher

Via Media Publishing

Published Date

ISBN 10

189376558X

ISBN 13

9781893765580

New Realms for Writing

Inspire Student Expression with Digital Age Formats

By: Michele Haiken

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New Realms for Writing

Inspire Student Expression with Digital Age Formats

By: Michele Haiken

Boost students’ communication and writing skills, with strategies and examples to help them craft their own stories, tell their truth and be heard. The world should be the driving curriculum in our schools. Assignments should be authentic, have real-world connections and encourage students to create meaningful work. Accordingly, content created and read in school should go beyond books and include podcasts, popular culture, games and films to help students build writing and critical-thinking skills. New Realms for Writing features a variety of teacher-created resources and samples of student work to illustrate how teachers can design inquiry units for their content area that are authentic and engage students while developing digital age skills. This book: • Provides insights into creating and using innovative materials and texts that are differentiated and personalized to student learners, specifically for teaching writing. • Provides pedagogy and lesson ideas that promote student choice and voice within units of study that make cross-curricular connections. • Offers tips to ensure that tech tools support student learning -- while not driving it. There are many great tech tools to support learning, but the conversation must center on thoughtful teaching and purpose, with tech supporting robust pedagogy. This book offers strategies and lesson ideas to help teachers make sure their instruction does just that.

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146

Publisher

International Society for Technology in Education

Published Date

ISBN 10

1564847888

ISBN 13

9781564847881

Health Program Planning and Evaluation

A Practical Systematic Approach to Community Health

By: L. Michele Issel,Rebecca Wells,Mollie Williams

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Health Program Planning and Evaluation

A Practical Systematic Approach to Community Health

By: L. Michele Issel,Rebecca Wells,Mollie Williams

Health Program Planning and Evaluation, Fifth Edition carefully walks the reader through the process for developing, implementing, and evaluating successful community health promotion programs. Featuring reader-friendly, accessible language and practical tools and concepts, this outstanding resource prepares students and professionals to become savvy consumers of evaluation reports and prudent users of evaluation consultants. The Fifth Edition reflects the major changes in the field of community health with updated examples and references throughout.

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468

Publisher

Jones & Bartlett Learning

Published Date

ISBN 10

1284232921

ISBN 13

9781284232929

Women in the Club

Gender and Policy Making in the Senate

By: Michele L. Swers

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Women in the Club

Gender and Policy Making in the Senate

By: Michele L. Swers

Women in the Club is an eye-opening exploration of how women are influencing policy and politics in this erstwhile male bastion of power.

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329

Publisher

University of Chicago Press

Published Date

ISBN 10

022602279X

ISBN 13

9780226022796

Defying the Odds

Surviving Sandakan and Kuching

By: Michele Cunningham

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Defying the Odds

Surviving Sandakan and Kuching

By: Michele Cunningham

For Australian servicemen captured by the Japanese in World War II, humour, courage and dignity in the face of hardship, brutality and deprivation ? and hope in the face of the unknown ? were quiet victories. They defined a uniquely Australian spirit. Defying the Odds tells the incredible story of the officers of B and E Forces interned at Sandakan and Kuching in Borneo. Despite the starvation and the trauma they suffered at the hands of the Japanese, they boosted morale through a regimen of study, music and theatre, and most importantly, by making each other laugh. After the war, military authorities were impressed by their physical and mental resilience and astounded by their achievements. As the years passed, they frequently held reunions to remember their experiences, to relive the jokes and the times they outwitted the guards, to recall old songs and the musicals and plays they staged ? to honour friendships wrought by the war. This is a full-length account of how the officers of B and E Forces defied the odds, and survived.

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273

Publisher

Hachette Australia

Published Date

ISBN 10

073363270X

ISBN 13

9780733632709

Regulating lobbying

A global comparison, 2nd edition

By: Raj Chari,John Hogan,Gary Murphy,Michele Crepaz

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Regulating lobbying

A global comparison, 2nd edition

By: Raj Chari,John Hogan,Gary Murphy,Michele Crepaz

Governments worldwide are developing sunshine policies that increase transparency in politics, where a key initiative is regulating lobbyists. Building on the pioneering first edition, this book updates its examination of all jurisdictions with regulations, from the Americas, Europe, Middle East, Asia, and Australia. Unlike any book, it offers unique insights into how the regulations compare and contrast against each other, offering a revamped theoretical classification of different regulatory environments and situating each political system therein. This edition innovatively considers different measurements to capture the robustness of lobbying laws in terms of promoting transparency and accountability. And, based on the authors’ experience of advising governments globally, it closes with a no-nonsense guide on how to make a lobbying law. This is of value to policymakers seeking to introduce or amend regulations, and lobbyists seeking to influence this process.

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156

Publisher

Manchester University Press

Published Date

ISBN 10

1526117266

ISBN 13

9781526117267

From the Paris Agreement to a Low-Carbon Bretton Woods

Rationale for the Establishment of a Mitigation Alliance

By: Michele Stua

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From the Paris Agreement to a Low-Carbon Bretton Woods

Rationale for the Establishment of a Mitigation Alliance

By: Michele Stua

This book investigates the existing and possible links between the concept of a Carbon Club and the Paris Agreement. In doing so the book defines those criteria that may lead to an effective establishment of a Carbon Club acting within the mandate of the Paris Agreement and identifies the key questions that such an option may help to tackle: Which low-carbon pathways are compatible with the new temperature targets set by the Paris Agreement? Can new entities like the Carbon Club have a decisive role in guaranteeing the alignment of the aggregate mitigating actions with the global objectives identified within the Paris Agreement? What role will be played by market and non-market approaches within the proposed framework? How can economic, social, and environmental sustainability be ensured during the implementation of the Agreement? How can justice and equity be encouraged between the Parties and all the involved actors as required by the Agreement? Which instruments can be designed and adopted to provide the expected degree of transparency for the new system? To respond to these questions the book adopts a holistic approach, able to emphasize the strong interrelations. The book discusses the opportunity to develop a Carbon Club within the Article 6 framework, and provides a feasible roadmap for its means of implementation, rules and governance structure. The final result is a feasible policy proposal that takes into account all the key issues introduced by the questions, and draws a roadmap towards a 'low-carbon Bretton Woods’.

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250

Publisher

Springer

Published Date

ISBN 10

3319546996

ISBN 13

9783319546995

Escape Points

A Memoir

By: Michele Weldon

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Escape Points

A Memoir

By: Michele Weldon

Society of Midland Authors Literary Award Finalist in Biography & Memoir Award-winning journalist Michele Weldon provides a potent antidote to the harried single mom stereotype in this beguiling memoir of raising three sons alone in the face of cancer, an ambitious career, and the shadow of her ex. Untethered from a seemingly idyllic life with a handsome but abusive attorney husband, Weldon relates the challenges and triumphs of the years that followed her divorce as she maneuvers through a complicated life of long daily commutes, radiation treatments, supporting the boys' all-consuming high school wrestling careers, and trying to mitigate their hurt and resentment at an absent father. By turns humorous and heartbreaking, Weldon describes facing her fears and failures honestly, guided by a belief in the power of staying calm, doing one's best, and asking for help. She provides a graceful example of how a single mother, and her children, can succeed when others—neighbors, family, teachers, and in this case an incredible high school wrestling coach—step in to fill the void and she can stay the course with common sense and dutiful love.

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226

Publisher

Chicago Review Press

Published Date

ISBN 10

1613733550

ISBN 13

9781613733554

Beyond National Identity

Pictorial Indigenism as a Modernist Strategy in Andean Art, 1920-1960

By: Michele Greet

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Beyond National Identity

Pictorial Indigenism as a Modernist Strategy in Andean Art, 1920-1960

By: Michele Greet

Traces changes in Andean artists' vision of indigenous peoples as well as shifts in the critical discourse surrounding their work between 1920 and 1960.

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