中級宏觀經濟學上海財經大學經濟學院沈凌04growth-文庫吧資料
2024-08-05 03:42本頁面
【正文】 te ? In the steady state, ?k/k and ?y/y are zero for any n. ? A higher n leads to lower steadystate capital and real GDP per worker, k? and y?, not to changes in the growth rates, ?k/k and ?y/y (which remain at zero). ? A change in n does affect the steadystate growth rates of the levels of capital and real GDP, ? K/K and ?Y/Y. Macroeconomics Chapter 4 19 Solow Growth Model Sum up k* = k* [ s, A, n, δ, L(0) ] (+) (+) (?) (?) (0) Macroeconomics Chapter 4 20 Solow Growth Model Convergence ? One of the most important questions about economic growth is: whether poor countries tend to converge or catch up to rich countries. Macroeconomics Chapter 4 21 Solow Growth Model Convergence Macroeconomics Chapter 4 22 Solow Growth Model Convergence ? Economy 1 starts with lower capital per worker than economy 2— k(0)1 is less than k(0)2. ? Economy 1 grows faster initially because the vertical distance between the s(y*/k*)=sδ+n ? We assumed that everything on the righthand side was constant except for y/k. ? In the transition to the steady state, the rise in k led to a fall in y/k and, hence, to a fall in ?k/k. ? In the steady state, k was constant and, therefore, y/k was constant. Hence, ?k/k was constant and equal to zero. Macroeconomics Chapter 4 4 Solow Growth Model Change in savings rate (s) Macroeconomics Chapter 4 5 Solow Growth Model Change in savings rate (s) ? In the short run, an increase in the saving rate raises the growth rate of capital per worker. ? This growth rate remains higher during the transition to the steady state. Macroeconomics Chapter 4 6 Solow Growth Model Change in savings rate (s) ? In the long run, the growth rate of capital per worker is the same— zero— for any saving rate. ? In this longrun or steadystate situation, a higher saving rate leads to higher steady st
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