U.S. GDP Detrended Analysis

Pan Hu (), Peiyao Ji, Huishan Xu, Xingyu Shi and Yi Wu
Additional contact information
Pan Hu: University of Cincinnati
Peiyao Ji: University of Glasgow
Huishan Xu: Qingdao No. 58 Middle School
Xingyu Shi: Huaer Zizhu Academy
Yi Wu: Suzhou Science and Technology Town Foreign Language High School

A chapter in Proceedings of the 2022 3rd International Conference on Big Data Economy and Information Management (BDEIM 2022), 2023, pp 376-384 from Springer

Abstract: Abstract This paper uses a detrending approach to examine the factors influencing U.S. GDP. We selected U. S GDP data from 1981 to 2021 from the Bureau of Economic Analysis to make the sample reliable. We estimate factors that affect GDP, including consumption, investment, and government spending. We analyzed the trend of the data by adding the linear regression method. Through the detrending treatment of the influencing factors, we found that taking a short-term perspective; Investment is more volatile than consumption, so the government should stimulate investment. From a long-term perspective, it would be more prudent for the government to encourage consumption because consumption is less volatile than investment. There will be steady growth in the GDP. GDP influences government spending over two years.

Keywords: Gross Domestic Product; Detrended; Cyclical; Standard Deviation; Correlation (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-124-1_45

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DOI: 10.2991/978-94-6463-124-1_45

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