He has to make estimates, because not all the official numbers are out, but his reasoning squares with French data showing hourly output rising at an annual rate of 3% .

ECONOMIST: The euro area's economy

Compared to the estate tax provisions in current law, and after all economic adjustments, repeal of the estate tax would increase GDP by about 2.25 percent, private sector output and labor income (hours worked times hourly wage) by about 2.34 percent, and capital stock by 6.1 percent.

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If you care about output per hour, make sure to divide by the hourly wage.

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