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Jason Smith — Immigration is a major source of growth

Summary:
One of the findings of the dynamic information equilibrium approach (see also my latest paper) is that nominal output ("GDP") has essentially the same structure as the size of the labor force. The major shocks to the path of NGDP roughly correspond to the major shocks to the Civilian Labor Force (CLF). Both are shown as vertical lines. The first is the demographic shock of women entering the workforce.... With the positive shock of women entering the labor force ending, immigration is a major (and perhaps only) source of growth in the US aside from asset bubbles [3]. Information Transfer EconomicsImmigration is a major source of growthJason Smith

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One of the findings of the dynamic information equilibrium approach (see also my latest paper) is that nominal output ("GDP") has essentially the same structure as the size of the labor force.
The major shocks to the path of NGDP roughly correspond to the major shocks to the Civilian Labor Force (CLF). Both are shown as vertical lines. The first is the demographic shock of women entering the workforce....
With the positive shock of women entering the labor force ending, immigration is a major (and perhaps only) source of growth in the US aside from asset bubbles [3].
Information Transfer Economics
Immigration is a major source of growth
Jason Smith
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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