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A Soft Landing, Steady Growth, And Accelerating Farm Income, John Austin, Chris Decker, Tom Doering, Ernie Goss, Nick Hernandez, Bruce Johnson, Ken Lemke, Franz Schwarz, Scott Strain, Eric Thompson, Keith Turner

Economics Faculty Publications

After years of accelerating growth, the U.S. economy achieved a soft landing in 2006. The rate of economic growth remained positive but slowed sufficiently to reduce inflation pressures and the need for further interest rate increases. At the same time the economy remained strong enough to continue the current expansion which has been in place since late 2001. Such a soft landing is vital because it should allow the economy to continue to expand for years to come, but with moderate inflation.

Pillars Of Growth In Nebraska's Non-Metropolitan Economy, Eric Thompson, Ernie Goss, Chris Decker, Cheryl A. Burkhart-Kriesel, Bruce Johnson, Ben Schmitz, Julian Neira, Pavel Jeutang

Economics Faculty Publications

Agriculture is a critical part of Nebraska’s economy, and changes in the fortunes of agriculture play an important role in the success of the state’s non-metropolitan regions. Trends toward consolidation and rising productivity in agriculture, however, have raised concerns about the future of non-metropolitan Nebraska. Some citizens and policymakers have begun to wonder if the economy can create sufficient job opportunities for non-metropolitan residents. The answer to this question depends not only upon the relative strength of the agricultural sector, but also upon the presence of other industries that can join agriculture as pillars for employment growth in non-metropolitan Nebraska. …

Schumpeter's Creative Destruction: A Review Of The Evidence, Arthur M. Diamond Jr.

Economics Faculty Publications

Thoughtful scholars from Adam Smith to Jared Diamond, have asked the same life-and-death question: why do some societies succeed, and others fail, in producing the goods that make life long, healthy and prosperous? Smith's answer was basically that when societies adopt the rules of market capitalism, their economies grow,:and when they do not adopt the rules of market capitalism, their economies do not. Since Smith, other economists have developed more formal models of economic growth. The classic "Solow growth model" emphasized the investment of capital. Romer's "New Growth Theory," includes knowledge as a variable. What is mainly missing from both …

Manufacturing Rebounds, John Austin, Chris Decker, Tom Doering, Ernie Goss, Nick Hernandez, Bruce Johnson, Ken Lemke, Donis Petersan, Franz Schwarz, Eric Thompson, Keith Turner

Economics Faculty Publications

National economic conditions will continue to favor growth over the next three years, including sustained increases in manufacturing employment. Higher energy prices, particularly for oil, gasoline, and natural gas, will impact the economy, but probably only will moderate economic growth rather than cause a significant slowdown.

After rapid growth in 2004 and 2005, growth in real gross domestic product is expected to moderate in 2006-2008, due to higher long-term interest rates as well as higher energy prices. Real gross domestic product will grow 3 percent in 2006 and fall to 2.5 percent growth in later years. The housing market will …