…a Major Factor Driving Growth All the categories of investment showed healthy growth in the quarter, with equipment investment growing at a 10.8 percent annual rate after falling in the…

…population controls. Hours and Productivity We saw extraordinarily rapid productivity growth over the last three quarters of 2023, with an average growth rate over this period of 3.9 percent. While…

…were coming down. In the 1940 – 1950 period, we did observe slower economic growth following a tax hike and faster economic growth followed a tax reduction. However, that happened…

…growth over the 2000 to 2007 period. In CY 2008 debt growth goes negative. Here’s a close-up view. So much for optimism-fueled debt growth. Between the non-existent debt surges Sumner…

…quarterly data.   Graph 1 – YoY GDP Growth since 1947 As you can see, GDP growth has certainly been steady over the last three years, albeit at a remarkably…

…to the 1950s. They showed that there is ”…very little persistence in country growth rate differences over time, and consequently, current growth has very little predictive power for future growth.”…

…the graph labels). To avoid questions of causality, the growth rate in year X used in this post is the growth rate from year X to year X+1. And when…

…(e.g., the 1980 figure shows growth from 1980 to 1981) to avoid “what leads what” questions. If there is a causal relationship between the tax rate and the growth rate,…

…raises are usually only given once a year, nominal wage growth is much less subject to noise than real wage growth. This makes it easier to distill signal from noise….

…growth target. The econometric analysis and policy prescriptions came as an afterthought. In terms of enshrining the hegemony of economic growth as a policy imperative, the OECD growth targeting has…