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Analysis of GDP of the United States (1981-2021)

In: Proceedings of the 2023 5th International Conference on Economic Management and Cultural Industry (ICEMCI 2023)

Author

Listed:
  • Jincheng Kuang

    (Beijing Technology and Business University, Department of Business)

Abstract

From relevant articles, the United States restored its economy from recessions since 1981, revealed by its real GDP. In the whole process, the questions appear as how United States made it-What caused the changes and what are the evidence for the policies of restoration. To figure out the reason behind, the GDP data is chosen as the main objective to study, where the elements of real GDP are individually analysed. Hence, the general mode of this work is to analyse the extracted cyclicals of each element from the data, which are divided by removing GDP’s trend, called Detrending. To implement it, standard deviation and correlation equations are used in the cyclical data of the annual GDP of the United States from 1981 to 2021. To further push forward the study, cyclical of each element is compared, which finally indicates that the long-term solution on economic restoration is to stimulate Consumption, which constantly and sustainably increases the GDP, and that short-term solution on economic restoration is to stimulate Investment, which pulls GDP up within a short period.

Suggested Citation

  • Jincheng Kuang, 2024. "Analysis of GDP of the United States (1981-2021)," Advances in Economics, Business and Management Research, in: Feng-xia Cao & Satya Narayan Singh & Ahmad Jusoh & Deepanjali Mishra (ed.), Proceedings of the 2023 5th International Conference on Economic Management and Cultural Industry (ICEMCI 2023), pages 869-876, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-368-9_101
    DOI: 10.2991/978-94-6463-368-9_101
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