The average nominal GDP growth among these thirteen flat-tax countries was 21.8% in 2007.
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The BRIC countries generated nominal GDP growth of 15.5% on a weighted-average basis in 2011.
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Ryan would put a cap on the per capita growth of the premium support equal to nominal GDP growth plus 0.5%.
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This 9% nominal GDP growth was to come via the printing press.
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My good friend and sometime mentor, Brian Wesbury, argues that the natural rate of interest is the same as the nominal GDP growth rate.
The year-over-year trend in nominal GDP growth has steadily declined from 4.3% at the end of 2010 to 3.3% at the end of 2012.
This type of nominal GDP growth has often been associated with the onset of recession, as opposed to the notion of robust economic growth.
There is no problem running a deficit so long as it is lower (as a percent of GDP) than our rate of nominal GDP growth.
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Liquidity injections have provided a floor beneath nominal GDP growth rates.
For the past three years, nominal GDP growth has been 3.8 percent, 4.0 percent, and 4.0 percent, divided roughly in half between real growth and inflation.
If there is a slowdown in the turnover of money--say, a 5% decline--the impact on nominal GDP growth is no different than if the money supply itself shrinks by 5%.
Regarding Nominal GDP Growth, the yield of the bonds will likely be greater than that too and will more than likely be greater that the 4% assumption quoted in the article.
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They point out that money supply growth ran 2.4 percent faster than nominal GDP growth during this period, when it had run below nominal GDP growth in 1959-69, 1969-79, and 1979-95, as would be expected with velocity increasing due to technological advance.
The deficit he was commenting on was less than the growth in nominal GDP.
Governments can increase their debt as long as the increase is less than the growth in nominal GDP.
This, in turn, produces excessive growth of nominal GDP (NGDP), and accelerating inflation.
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Under the plan, Medicare spending may not rise by more than the growth of nominal GDP plus one percent.
Countries can elect to get their fiscal houses in order over time, getting the fiscal deficits below the growth of nominal GDP.
For example, 6% growth in nominal GDP is consistent with 0% M and 6% V, 5% M and 1% V, 10% M and -4% V, etc.
That could include increasing government-bond purchases, or setting itself a monetary target not just based on a positive inflation rate, but on robust growth of nominal GDP.
To make up for that lost growth in the next five years, the Bank would need to target growth in nominal GDP of well over 6% a year between 2013 and 2017.
Paying interest on excess reserves will initially sterilize the new high-powered money, without much impact on bank lending and nominal incomes, let alone real GDP growth.
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In practice, even that's not guaranteed: if you take 2005 as the last time that the UK was "on trend" (or operating at exactly its capacity), the growth in our nominal GDP between then and 2012 looks about right.
Various rules have been proposed, including a price-level rule (zero inflation), an inflation target rule (2 percent inflation), a nominal GDP target, and a Taylor rule designed to control the growth of nominal income by controlling the monetary base.
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Second, it creates the controversial, Independent Payment Advisory Board (IPAB) to keep Medicare growth below that of nominal GDP plus one percent (the same as in the Ryan-Wyden plan).
Putting that growth into perspective, nominal GDP expanded at 4.6% in the year through the first quarter of 2007, 4.1% the following year, contracted in the year through the first quarter of 2009 and advanced by just 2.9% in the 12 months through the first quarter of this year.
In order to get real GDP growth figures you collect the nominal GDP figures (fairly easy) and then adjust them by the inflation rate.
U.S. corporate profits (which are expressed in nominal terms) have tended to rise and fall at about twice the rate of world nominal dollar GDP, suggesting double-digit profit growth again in 2006.
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