Long-run Growth Quotes

Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand.

A rise in the level of saving can reduce aggregate activity temporarily but only a sustained high level of saving makes it possible to have the sustained high level of business investment that contributes to the long-run growth of output.

My advice would be, as you consider fiscal policies, to keep in mind and look carefully at the impact those policies are likely to have on the economy's productive capacity, on productivity growth, and to the maximum extent possible, choose policies that would improve that long-run growth and productivity outlook.

For a developing country, average long-run growth of 5 percent a year per capita is excellent, and 7 percent is stellar.

While monetary policy can contribute to growth by supporting a durable expansion in a context of price stability, it cannot reliably affect the long-run sustainable level of the economy's growth.

It is absolutely clear that government plays a key role, as a catalyst, in promoting long-run growth.

Our ability to estimate our deficit 20 years out is nil. We should not twist our economy like a pretzel over such an projection…. Growth in the short run raises the level of long run potential.

The goal of long-run economic growth without asset price bubbles is not only achievable, but is something we should expect if we put a sound regulatory framework in place and if policymakers remain vigilant.