 |
| Graph #1: RGDP and Trend (Vertical Scale is "Millions of 2009 Dollars") |
 |
| Graph #2: 20-Year Trend RGDP Growth (1820 is 140% more than 1800, etc.) |
Part 1 of 4
Saturday, February 17, 2018
So much for the notion that "trend real growth" is stable.
I went to MeasuringWorth and got annual data for U.S. Real GDP, 1800-2016. Added a Hodrick-Prescott trend line with a smoothing factor of 10,000. Changed the vertical axis to a log scale. It looks like this:
I think I see arches in that thing. Actually, I'm not sure what I see. For a closer look I figured growth rates for 20-year periods, from 1820 to 2016. Looks like this:
Yup, arches. So much for the notion that "trend real growth" is stable.
Part 1 of 4
Part 1 of 4
Subscribe to:
Post Comments (Atom)
-
I'm not a fan of "diagrams" in economics, but sometimes... This is a screen capture of slide 36 from a SlideShare presentatio... -
JW Mason : "... in retrospect it is clear that we should have been talking about big new public spending programs to boost demand.&quo... -
Bosch season five air date: 18 April. Ten episodes. Four days later, six of the transcripts were already available. A few days later, the ... -
First, this summary of an observation made in 1850, from the Liberty Fund : Frédéric Bastiat, while pondering the nature of war, concluded ... -
In the Google News this morning, "The Fed may have saved the economy by hiking rates for 18 months—and may have guaranteed crisis for...
No comments:
Post a Comment