Measuring at purchasing-power parity makes the gap in GDP and living standards look narrower.
Earlier this year, staff at the Federal Reserve also marked down their estimate of the country's potential GDP and the output gap in response to the surprisingly steep drop in unemployment.
We're spending about 23 percent of GDP and we take in 18 percent of GDP, and that gap is growing, because health care costs -- Medicare and Medicaid in particular -- are growing, and we've got to do something about that.
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This represents the gap between cumulative GDP and population at a given latitude, and is best read from right to left.
Since these countries tend to be populous and relatively poor, the gap between cumulative GDP and population starts to collapse, and the line heads back down.
And there was a sustained expansion of the higher-education system: the share of working-age adults with a university degree rose from 5% in 1980 to 14% in 1996 and 31% in 2011, a faster increase than in France, Germany or the US. The combination of these policies helped the UK to bridge the GDP-per-capita gap with other leading nations.
Eliminating these tax cuts for all would add roughly 2% of GDP to tax revenue, closing the gap by nearly one-quarter.
The European Commission in May estimated the gap between actual and potential GDP in the U.S. this year at 0.5% of potential GDP.
In Europe, economists at the European Commission, the EU's executive arm, produce official estimates of the gap between actual and potential GDP that are crucial for calculating the structural deficit.
And perhaps it hasn't noticed that the closing of the gap in economic development and in GDP is hardly unique to Scotland.
Across the Atlantic, the U.S. Congressional Budget Office, the main referee of U.S. budget policy, in January estimated the U.S. gap at 5.3% of GDP.
The gap in living standards has shrunk: GDP per person in the east has risen from 40% of west German levels in 1991 to nearly 70% in 2008.
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Much of Germany's second-quarter GDP growth came from trade, even as a wider trade gap sapped America's economy.
Kevin Daly at Goldman Sachs, an investment bank, has calculated that eliminating the remaining gap between male and female employment rates could boost GDP in America by a total of 9%, in the euro zone by 13% and in Japan by as much as 16%.
The gap widened to a record 6.7% of GDP in the October-December quarter, the latest period for which the official number is available.
Central bank data last week showed the current-account gap widened to a record 6.7% of GDP in the October-December quarter, from 5.4% in the preceding quarter.
If GDP growth does not reach as much as 1% next year, the gap will be bigger still.
Moody's lauded the government's success in containing this year's fiscal deficit at 5.2% of GDP by controlling spending and said a similar commitment is needed to narrow the gap to the 4.8% level projected for next year.
The funding agency, however, flagged India's high current-account gap--which widened to a record 6.7% of GDP during the October-December quarter--as a major risk to growth.
The average current account gap for the first three quarters - at 2.7% of GDP - is below the 3.1% of GDP for the same period in 2010.
In four countries, the gap between contributions and revenues is expected to be 10% or more of GDP.
Eliminating this gap requires cutting spending or raising taxes to the tune of 12 percent of GDP this year and every year in the future.
Japanese debt is unique to other countries because Japan has been indebted for the past two decades, its leverage didn't increase rapidly and the gap between Japan and others declined because other countries' debt-to-GDP ratio increased.
In 1979, the gap between public spending and tax revenues in 1979 was 4.1% of GDP.
This would resolve all these puzzles: GDP growth of 2.5% is above, not at, trend, the output gap is closing, and it was probably smaller than we thought to begin with.
The survey quotes research that says closing the male-female employment gap would have huge economic implications for developed economies, boosting U.S. GDP by as much as 9%, eurozone GDP by as much as 13% and Japanese GDP by as much as 16%.
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