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Hooray for GDP!

  • Nicholas Oulton

The idea of having GDP growth as the main target of economic policy has been under attack in recent years. The article answers some of the criticisms and argues that continued GDP growth would be good for the UK - and not just in the short term to reduce high levels of unemployment.

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File URL: http://cep.lse.ac.uk/pubs/download/cp383.pdf
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Paper provided by Centre for Economic Performance, LSE in its series CentrePiece - The Magazine for Economic Performance with number 383.

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Date of creation: Dec 2012
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Handle: RePEc:cep:cepcnp:383
Contact details of provider: Web page: http://cep.lse.ac.uk/centrepiece/

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  1. Daron Acemoglu, 2012. "The World our Grandchildren Will Inherit: The Rights Revolution and Beyond," NBER Working Papers 17994, National Bureau of Economic Research, Inc.
  2. M. L. Weitzman, 1974. "On the Welfare Significance of National Product in Dynamic Economy," Working papers 125, Massachusetts Institute of Technology (MIT), Department of Economics.
  3. William Brock & M. Taylor, 2010. "The Green Solow model," Journal of Economic Growth, Springer, vol. 15(2), pages 127-153, June.
  4. Susanto Basu & Luigi Pascali & Fabio Schiantarelli & Luis Serven, 2012. "Productivity and the welfare of nations," Economics Working Papers 1312, Department of Economics and Business, Universitat Pompeu Fabra.
  5. Clinton P. McCully & Brian C. Moyer & Kenneth J. Stewart, 2007. "A Reconciliation between the Consumer Price Index and the Personal Consumption Expenditures Price Index," BEA Papers 0079, Bureau of Economic Analysis.
  6. Robert J. Gordon, 2009. "Misperceptions About the Magnitude and Timing of Changes in American Income Inequality," NBER Working Papers 15351, National Bureau of Economic Research, Inc.
  7. William D. Nordhaus, 1992. "Lethal Model 2: The Limits to Growth Revisited," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 23(2), pages 1-60.
  8. Mauro Giorgio Marrano & Jonathan Haskel & Gavin Wallis, 2007. "What Happened to the Knowledge Economy? ICT, Intangible Investment and Britain's Productivity Record Revisited," Working Papers 603, Queen Mary University of London, School of Economics and Finance.
  9. Carol Corrado & Charles Hulten & Daniel Sichel, 2009. "Intangible Capital And U.S. Economic Growth," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 55(3), pages 661-685, 09.
  10. Robert J. Barro, 2013. "Inflation and Economic Growth," Annals of Economics and Finance, Society for AEF, vol. 14(1), pages 121-144, May.
  11. Edward N. Wolff & Ajit Zacharias & Thomas Masterson, 2012. "Trends In American Living Standards And Inequality, 1959–2007," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 58(2), pages 197-232, 06.
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