U.S. Log GDP with Error Bands of +/-3%

Below, Corrections depicts our own version of Figure 2.4 in Ed Leamer's Macroeconomic Patterns and Stories.  It depicts, from the perspective of 1970, log GDP.  Then, from 1970+3% GDP and 1970-3% GDP, it simulates a permanent 3% growth trend.  One can see that growth, remarkably, stays within this rather narrow corridor.