版權(quán)說(shuō)明:本文檔由用戶提供并上傳,收益歸屬內(nèi)容提供方,若內(nèi)容存在侵權(quán),請(qǐng)進(jìn)行舉報(bào)或認(rèn)領(lǐng)
文檔簡(jiǎn)介
1、Chapter9—EconomicGrowthII:TechnologyEmpiricsPolicy71AnswerstoTextbookQuestionsProblemsCHAPTER9EconomicGrowthII:TechnologyEmpiricsPolicyQuestionsfReview1.IntheSolowmodelwefindthatonlytechnologicalprogresscanaffectthestead
2、ystaterateofgrowthinincomeperwker.Growthinthecapitalstock(throughhighsaving)hasnoeffectonthesteadystategrowthrateofincomeperwkerneitherdoespopulationgrowth.Buttechnologicalprogresscanleadtosustainedgrowth.2.Inthesteadyst
3、ateoutputperpersonintheSolowmodelgrowsattherateoftechnologicalprogressg.Capitalperpersonalsogrowsatrateg.Notethatthisimpliesthatoutputcapitalpereffectivewkerareconstantinsteadystate.IntheU.S.dataoutputcapitalperwkerhaveb
4、othgrownatabout2percentperyearfthepasthalfcentury.3.TodecidewhetheraneconomyhasmelesscapitalthantheGoldenRuleweneedtocomparethemarginalproductofcapitalofdepreciation(MPK–δ)withthegrowthrateoftotaloutput(ng).Thegrowthrate
5、ofGDPisreadilyavailable.EstimatingthemarginalproductofcapitalrequiresalittlemewkbutasshowninthetextcanbebackedoutofavailabledataonthecapitalstockrelativetoGDPthetotalamountofdepreciationrelativetoGDPcapital’sshareinGDP.4
6、.Economicpolicycaninfluencethesavingratebyeitherincreasingpublicsavingprovidingincentivestostimulateprivatesaving.Publicsavingisthedifferencebetweengovernmentrevenuegovernmentspending.Ifspendingexceedsrevenuethegovernmen
7、trunsabudgetdeficitwhichisnegativesaving.Policiesthatdecreasethedeficit(suchasreductionsingovernmentpurchasesincreasesintaxes)increasepublicsavingwhereaspoliciesthatincreasethedeficitdecreasesaving.Avarietyofgovernmentpo
8、liciesaffectprivatesaving.Thedecisionbyahouseholdtosavemaydependontherateofreturnthegreaterthereturntosavingthemeattractivesavingbecomes.Taxincentivessuchastaxexemptretirementaccountsfindividualsinvestmenttaxcreditsfcpat
9、ionsincreasetherateofreturnencourageprivatesaving.5.Thelegalsystemisanexampleofaninstitutionaldifferencebetweencountriesthatmightexplaindifferencesinincomeperperson.CountriesthathaveadoptedtheEnglishstylecommonlawsystemt
10、endtohavebetterdevelopedcapitalmarketsthisleadstomerapidgrowthbecauseitiseasierfbusinessestoobtainfinancing.Thequalityofgovernmentisalsoimptant.Countrieswithmegovernmentcruptiontendtohavelowerlevelsofincomeperperson.6.En
11、dogenousgrowththeiesattempttoexplaintherateoftechnologicalprogressbyexplainingthedecisionsthatdeterminethecreationofknowledgethroughresearchdevelopment.BycontrasttheSolowmodelsimplytookthisrateasexogenous.IntheSolowmodel
12、thesavingrateaffectsgrowthtemparilybutdiminishingreturnstocapitaleventuallyfcetheeconomytoapproachasteadystateinwhichgrowthdependsonlyonexogenoustechnologicalprogress.Bycontrastmanyendogenousgrowthmodelsinessenceassumeth
13、atthereareconstant(ratherthandiminishing)returnstocapitalinterpretedtoincludeknowledge.Hencechangesinthesavingratecanleadtopersistentgrowth.ProblemsApplications1.a.IntheSolowmodelwithtechnologicalprogressyisdefinedasoutp
14、utpereffectivewkerkisdefinedascapitalpereffectivewker.ThenumberofeffectivewkersisdefinedasL?E(LE)whereListhenumberofwkersEmeasurestheefficiencyofeachwker.Tofindoutputpereffectivewkerydividetotaloutputbythenumberofeffecti
15、vewkers:Chapter9—EconomicGrowthII:TechnologyEmpiricsPolicy73YLE?K13(LE)23LEYLE?K13L23E23LEYLE?K13L13E13YLE?KLE??????13y?k13Tosolvefcapitalpereffectivewkerwestartwiththesteadystatecondition:Δk=sf(k)–(δng)k=0.Nowsubstitute
16、inthegivenparametervaluessolvefcapitalpereffectivewker(k):0.2413=(0.030.020.01)23=4=8.Substitutethevaluefkbackintothepereffectivewkerproductionfunctiontofindoutputpereffectivewkerisequalto2.Themarginalproductofcapitalisg
17、ivenby=1323.Substitutethevaluefcapitalpereffectivewkertofindthemarginalproductofcapitalisequalto112.c.AccdingtotheGoldenRulethemarginalproductofcapitalisequalto(δng)0.06.Inthecurrentsteadystatethemarginalproductofcapital
18、isequalto1120.083.TherefewehavelesscapitalpereffectivewkerincomparisontotheGoldenRule.Asthelevelofcapitalpereffectivewkerrisesthemarginalproductofcapitalwillfalluntilitisequalto0.06.Toincreasecapitalpereffectivewkerthere
19、mustbeanincreaseinthesavingrate.d.DuringthetransitiontotheGoldenRulesteadystatethegrowthrateofoutputperwkerwillincrease.Inthesteadystateoutputperwkergrowsatrateg.Theincreaseinthesavingratewillincreaseoutputpereffectivewk
20、erthiswillincreaseoutputpereffectivewker.Inthenewsteadystateoutputpereffectivewkerisconstantatanewhigherleveloutputperwkerisgrowingatrateg.Duringthetransitionthegrowthrateofoutputperwkerjumpsupthentransitionsbackdowntora
21、teg.3.TosolvethisproblemitisusefultoestablishwhatweknowabouttheU.S.economy:?ACobb–Douglasproductionfunctionhasthefmy=kαwhereαiscapital’sshareofincome.Thequestiontellsusthatα=0.3soweknowthattheproductionfunctionisy=k0.3.?
溫馨提示
- 1. 本站所有資源如無(wú)特殊說(shuō)明,都需要本地電腦安裝OFFICE2007和PDF閱讀器。圖紙軟件為CAD,CAXA,PROE,UG,SolidWorks等.壓縮文件請(qǐng)下載最新的WinRAR軟件解壓。
- 2. 本站的文檔不包含任何第三方提供的附件圖紙等,如果需要附件,請(qǐng)聯(lián)系上傳者。文件的所有權(quán)益歸上傳用戶所有。
- 3. 本站RAR壓縮包中若帶圖紙,網(wǎng)頁(yè)內(nèi)容里面會(huì)有圖紙預(yù)覽,若沒(méi)有圖紙預(yù)覽就沒(méi)有圖紙。
- 4. 未經(jīng)權(quán)益所有人同意不得將文件中的內(nèi)容挪作商業(yè)或盈利用途。
- 5. 眾賞文庫(kù)僅提供信息存儲(chǔ)空間,僅對(duì)用戶上傳內(nèi)容的表現(xiàn)方式做保護(hù)處理,對(duì)用戶上傳分享的文檔內(nèi)容本身不做任何修改或編輯,并不能對(duì)任何下載內(nèi)容負(fù)責(zé)。
- 6. 下載文件中如有侵權(quán)或不適當(dāng)內(nèi)容,請(qǐng)與我們聯(lián)系,我們立即糾正。
- 7. 本站不保證下載資源的準(zhǔn)確性、安全性和完整性, 同時(shí)也不承擔(dān)用戶因使用這些下載資源對(duì)自己和他人造成任何形式的傷害或損失。
最新文檔
- 曼昆宏觀經(jīng)濟(jì)經(jīng)濟(jì)學(xué)第九版英文原版答案
- 曼昆 宏觀經(jīng)濟(jì)學(xué) 第九版 答案 英文版 solution manual for macroeconomics 9th edition by mankiw
- 曼昆 宏觀經(jīng)濟(jì)學(xué) 第九版 答案 英文版 solution manual for macroeconomics 9th edition by mankiw
- 宏觀經(jīng)濟(jì)學(xué)(曼昆)
- 曼昆宏觀經(jīng)濟(jì)學(xué)原理答案
- 曼昆宏觀經(jīng)濟(jì)學(xué)課后習(xí)題答案
- 宏觀經(jīng)濟(jì)學(xué)曼昆12章
- 《曼昆—宏觀經(jīng)濟(jì)學(xué)》-重點(diǎn)總結(jié)
- 曼昆經(jīng)濟(jì)學(xué)原理宏觀經(jīng)濟(jì)學(xué)第六版答案
- [美]曼昆《宏觀經(jīng)濟(jì)學(xué)》中文版
- 宏觀經(jīng)濟(jì)學(xué)練習(xí)題答案曼昆
- 經(jīng)濟(jì)學(xué)考研曼昆宏觀經(jīng)濟(jì)學(xué)復(fù)習(xí)重難點(diǎn)
- 曼昆宏觀經(jīng)濟(jì)學(xué)英文版參考答案第34章
- 《曼昆—宏觀經(jīng)濟(jì)學(xué)》重點(diǎn)總結(jié)分析
- 曼昆《宏觀經(jīng)濟(jì)學(xué)》每章名詞解釋
- 曼昆宏觀經(jīng)濟(jì)學(xué)chapter01習(xí)題及答案
- 曼昆_經(jīng)濟(jì)學(xué)原理答案_英文版
- 曼昆版經(jīng)濟(jì)學(xué)原理宏觀經(jīng)濟(jì)學(xué)分冊(cè)第七版課后題及答案
- 經(jīng)濟(jì)學(xué)原理曼昆宏觀部分答案
- 宏觀經(jīng)濟(jì)學(xué)答案版
評(píng)論
0/150
提交評(píng)論