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Figure 5

Nordic Nations Consistently Lag U.S. Economic Output

$50,000

$45,000

U nited States

N ordic Average

$40,000

$35,000

$30,000

$25,000

$20,000

$15,000

$10,000

$5,000

$0

1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006

Source: International Monetary Fund World Economic Database.

Figure 6

Where's the Convergence? Per Capita Output as Share of U.S. Level

120%

100%

80%

60%

40%

1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006

Denmark IMF

Finl and IMF

Iceland IMF

Norway IMF

Sweden IMF

Uni ted Sta tes

Denmark OECD

Finl and OECD

Norway OECD

Sweden OECD

Sources: Organization for Economic Cooperation and Development, International Monetary Fund.

7