Karl Smith: 'The speed limit on the economy is extremely high'

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At Modeled Behavior, Karl Smith shares two graphs.  He asks us to look at what happened to the output gap after 1983:

...and then at the output gap for now:

..and he asks us to consider whether we could see a rapid recovery over the next year.  Smith says it si possible.  Not likely, but possible.  Read How Fast, Recovery here.

(Hat tip, Mark Thoma)


Posted 01-24-2012 9:23 AM by Graham Griffith
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