Gross domestic product

Which are the Most Productive State Economies?

Which are the Most Productive State Economies?

The Economist’s Free Exchange blog has a graph comparing the productivity of state economies (measured in GDP output per hour worked) versus the extent of urbanization.  The conclusion?  More urbanized states tend to have higher productivity.  To take it a bit further, there are some highly urbanized states that are even more productive than they […]

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The Nominal GDP Debate Actually Matters

The Nominal GDP Debate Actually Matters

OK, this is going to be a little wonky (actually, a lot wonky):  Over the past several months there has been a debate in macroeconomic circles on whether the Federal Reserve should use target growth rates in nominal Gross Domestic Product (i.e., change in GDP without adjusting for inflation)to establish its monetary policy.  The thinking […]

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