曼昆-宏觀經(jīng)濟(jì)經(jīng)濟(jì)學(xué)第九版-英文原版答案9-資料下載頁(yè)
2025-06-23 16:13本頁(yè)面
【正文】 more about current generations than about future generations may decide not to pursue a policy of increasing u. (This is analogous to the question considered in Chapter 8 of whether a policymaker should try to reach the Golden Rule level of capital per effective worker if k is currently below the Golden Rule level.)8. On the World Bank Web site (), click on the data tab and then the indicators tab. This brings up a large list of data indicators that allows you to pare the level of growth and development across countries. To explain differences in ine per person across countries, you might look at gross saving as a percentage of GDP, gross capital formation as a percentage of GDP, literacy rate, life expectancy, and population growth rate. From the Solow model, we learned that (all else the same) a higher rate of saving will lead to higher ine per person, a lower population growth rate will lead to higher ine per person, a higher level of capital per worker will lead to a higher level of ine per person, and more efficient or productive labor will lead to higher ine per person. The selected data indicators offer explanations as to why one country might have a higher level of ine per person. However, although we might speculate about which factor is most responsible for the difference in ine per person across countries, it is not possible to say for certain given the large number of other variables that also affect ine per person. For example, some countries may have more developed capital markets, less government corruption, and better access to foreign direct investment. The Solow model allows us to understand some of the reasons why ine per person differs across countries, but given it is a simplified model, it cannot explain all of the reasons why ine per person may differ.More Problems and Applications to Chapter 91. a. The growth in total output (Y) depends on the growth rates of labor (L), capital (K), and total factor productivity (A), as summarized by the equation ΔY/Y = αΔK/K + (1 – α)ΔL/L + ΔA/A, where α is capital’s share of output. We can look at the effect on output of a 5percent increase in labor by setting ΔK/K = ΔA/A = 0. Since α = 2/3, this gives us ΔY/Y = (1/3)(5%) = %. A 5percent increase in labor input increases output by percent. Labor productivity is Y/L. We can write the growth rate in labor productivity as . Substituting for the growth in output and the growth in labor, we find Δ(Y/L)/(Y/L) = % – % = –%. Labor productivity falls by percent. To find the change in total factor productivity, we use the equation ΔA/A = ΔY/Y – αΔK/K – (1 – α)ΔL/L. For this problem, we find ΔA/A = % – 0 – (1/3)(5%) = 0. Total factor productivity is the amount of output growth that remains after we have accounted for the determinants of growth that we can measure. In this case, there is no change in technology, so all of the output growth is attributable to measured input growth. That is, total factor productivity growth is zero, as expected. b. Between years 1 and 2, the capital stock grows by 1/6, labor input grows by 1/3, and output grows by 1/6. We know that the growth in total factor productivity is given by ΔA/A = ΔY/Y – αΔK/K – (1 – α)ΔL/L. Substituting the numbers above, and setting α = 2/3, we find ΔA/A = (1/6) – (2/3)(1/6) – (1/3)(1/3) = 3/18 – 2/18 – 2/18 = – 1/18 = –. Total factor productivity falls by 1/18, or approximately percent.2. By definition, output Y equals labor productivity Y/L multiplied by the labor force L: Y = (Y/L)L. Using the mathematical trick in the hint, we can rewrite this as . We can rearrange this as . Substituting for ΔY/Y from the text, we find Using the same trick we used above, we can express the term in brackets as ΔK/K – ΔL/L = Δ(K/L)/(K/L) Making this substitution in the equation for labor productivity growth, we conclude that .3. We know the following: ΔY/Y = n + g = % ΔK/K = n + g = % ΔL/L = n = % Capital’s Share = α = 1/3 Labor’s Share = 1 – α = 2/3 Using these facts, we can easily find the contributions of each of the factors, and then find the contribution of total factor productivity growth, using the following equations: Output = Capital’s + Labor’s + Total Factor Growth Contribution Contribution Productivity = + + % = (1/3)(%) + (2/3)(%) + ΔA/A. We can easily solve this for ΔA/A, to find that % = % + % + % We conclude that the contribution of capital is percent per year, the contribution of labor is percent per year, and the contribution of total factor productivity growth is percent per year. These numbers match the ones in Table 93 in the text for the United States from 1948–2002.Chapter 9—Economic Growth II: Technology, Empirics, and Policy 82
教學(xué)課件相關(guān)推薦
鄂ICP備17016276號(hào)-1