Archive for the ‘Economic Growth’ Category

Economists hold forth on ideas to boost productivity growth

May 19th, 2016

Paraphrasing Mark Twain’s famous comment about the weather, everybody complains about productivity growth but nobody does anything about it. As OTEers are learning, for better or worse, I’ve been obsessed with the problem of slow productivity growth. It poses a fundamental constraint on the growth of living standards both here and in many other economies… Read more

Quick GDP point re 2016q1

April 28th, 2016

As expected, real GDP for Q1 came in at a suckingly low 0.5%, SAAR. In this case, “SAAR”– seasonally adjusted at an annualized rate”– is important. That’s because there’s some concern with the seasonal adjusters, which some argue are biasing Q1 down and Q2 up. Also, annualized quarterly changes tend to jump around. So a… Read more

Important new findings on inflation and unemployment from the new ERP

February 22nd, 2016

In economic policy, new findings can sometimes break through the noise based on their timing, relevance, and importantly, who finds the findings. For example, when the President’s Council of Economic Advisors (CEA) publishes highly relevant results on a very hot topic in the annual Economic Report of the President (ERP), it matters. This year’s ERP, out… Read more