Economic Growth | Econofact

How Fast Did the Economy Grow Last Year?

By Michael Klein and Jay C. Shambaugh·March 5, 2019
Fletcher School, Tufts University and George Washington University and The Hamilton Project, Brookings Institution

The Issue:

The growth of Gross Domestic Product (GDP) is one of the most visible measures of economic performance. There are concerns with GDP as a measure of well-being: for example, it does not include non-market production that people value (such as parents caring for children or charitable work) nor does it

What Explains Slow Productivity Growth in the United States? (VIDEO)

By Karen Dynan and Jay C. Shambaugh·November 25, 2018
Harvard University and George Washington University and The Hamilton Project, Brookings Institution

Excerpt from webinar with Karen Dynan (Harvard University), Jay Shambaugh (George Washington University, and The Hamilton Project at The Brookings Institution), and Eduardo Porter (New York Times), October 23, 2018. A collaboration between EconoFact and The Hamilton Project, Brookings.

The Issue:

Productivity ...
Read more

Putting the Recent Swings in Stock Market Indexes into Context

By Daniel Bergstresser·February 8, 2018
Brandeis University

The Issue:

The volatility in the stock market in the first week of February 2018 stands in stark contrast to unusually low volatility throughout 2017. The past year was the first one ever that the Standard and Poor’s 500-stock index did not experience any decline greater than 3 percent. The past week, however, ...
Read more

Do Current GOP Tax Reform Proposals Resemble Reagan’s Tax Reforms?

By Jeffrey Frankel·November 29, 2017
Kennedy School, Harvard University

(This is an interactive graph. Hover your cursor over the chart area for more)

The Issue:

President Donald Trump has invoked the experience of the Reagan Administration's tax reforms to promote the current Republican tax reform proposals. "Republicans and Democrats came together to cut taxes for hardworking families ...
Read more

Government Budget Deficits and Economic Growth

By Michael Klein·July 12, 2017
Fletcher School, Tufts University

The Issue:

The United States government budget deficit was $587 billion in 2016, representing 3.2 percent of that year’s Gross Domestic Product (GDP). The Congressional Budget Office (CBO) projects that the budget deficit will rise to 5 percent of GDP in 2027, even if the economy is operating near full capacity ...
Read more

Immigration and Economic Growth in the U.S., 2000-2015

By Giovanni Peri·March 16, 2017
University of California, Davis

The Issue:

Many of the concerns regarding immigration during last year's presidential election revolved around undocumented immigrants entering through the U.S.-Mexico border. Issues such as crime and competition for low-wage jobs between immigrants and native workers took prominent roles. However, the focus on ...
Read more

Can the U.S. Economy Sustain 3½ to 4 Percent Economic Growth?

By Dan Sichel·January 25, 2017
Wellesley College

The Issue:

President Trump has stated that his economic policies would boost average U.S. economic growth to at least 3½ percent per year, with the potential to reach 4 percent. Some of Trump's policy proposals, such as tax cuts and infrastructure spending, indeed could boost growth over the next couple of years. ...
Read more

Is the Trade Deficit a Drag on Growth?

By Menzie Chinn and Michael Klein·January 20, 2017
Robert M. La Follette School, University of Wisconsin-Madison; and Fletcher School, Tufts University

The Issue:

President Trump has made reducing the trade deficit one of his economic goals. And two of his top administration picks, Peter Navarro, who is slated to lead a new White House office on trade, and Secretary of Commerce nominee Wilbur Ross, have publicly stated that reducing the "trade deficit drag" would