Growth, Growth Accounting, and Debt
Stephen Sexauer GIC Central Banking Series Madrid 4 October 2019
United States GDP (real) per person employed trailing 10 year slope 3.5% 3.0%
2.5% 2.0% 1.5% 1.0% 0.5% 0.0% 1959
1964
1969
1974
1979
1984
1989
1994
1999
2004
2009
2014
2019
1999
2004
2009
2014
2019
Empoyment Growth trailing 10 year slope 3.0% 2.0% 1.0% 0.0% 1959
1964
1969
1974
1979
1984
1989
source: Conference Board TEDI data. Calculations Stephen Sexauer
1
1994
United Kingdom GDP (real) per person employed trailing 10 year slope 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% 1959
1964
1969
1974
1979
1984
1989
1994
1999
2004
2009
2014
2019
1994
1999
2004
2009
2014
2019
Empoyment Growth trailing 10 year slope 2.0% 1.0% 0.0% -1.0%
1959
1964
1969
1974
1979
1984
1989
2
Germany GDP (real) per person employed trailing 10 year slope 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% 1959
1964
1969
1974
1979
1984
1989
1994
1999
2004
2009
2014
2019
1999
2004
2009
2014
2019
Empoyment Growth trailing 10 year slope 3.0% 2.0% 1.0% 0.0% -1.0% 1959
1964
1969
1974
1979
1984
1989
source: Conference Board TEDI data. Calculations Stephen Sexauer
3
1994
Italy GDP (real) per person employed trailing 10 year slope 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% -1.0%
1959
1964
1969
1974
1979
1984
1989
1994
1999
2004
2009
2014
2019
1994
1999
2004
2009
2014
2019
Empoyment Growth trailing 10 year slope 2.0% 1.0% 0.0% -1.0% 1959
1964
1969
1974
1979
1984
1989
source: Conference Board TEDI data. Calculations Stephen Sexauer
4
Japan GDP (real) per person employed trailing 10 year slope 10.0% 9.0% 8.0% 7.0% 6.0% 5.0% 4.0%
3.0% 2.0% 1.0% 0.0% 1959
1964
1969
1974
1979
1984
1989
1994
1999
2004
2009
2014
2019
1999
2004
2009
2014
2019
Empoyment Growth trailing 10 year slope 3.0% 2.0% 1.0% 0.0% -1.0% 1959
1964
1969
1974
1979
1984
1989
source: Conference Board TEDI data. Calculations Stephen Sexauer
5
1994
6
7
8
9