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#stpatricksday2023

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The most illuminating thread you will read on Ireland on #StPatricksDay2023

RT @Brad_Setser: But measured GDP is what enters into the euro area's aggregate GDP data, which has a host of consequences.

It pushes overall EA growth up a bit: Apple's global profits and Microsoft's European profits show up in EA GDP not US GDP.

But it also mucks up the trade data

5/x twitter.com/Brad_Setser/status twitter.com/Brad_Setser/status