巴罗 宏观经济学：现代观点 第3章
合集下载
相关主题
- 1、下载文档前请自行甄别文档内容的完整性，平台不提供额外的编辑、内容补充、找答案等附加服务。
- 2、"仅部分预览"的文档,不可在线预览部分如存在完整性等问题,可反馈申请退款(可完整预览的文档不适用该条件!)。
- 3、如文档侵犯您的权益，请联系客服反馈,我们会尽快为您处理(人工客服工作时间：9:00-18:30)。
Chapter3
Introduction to Economic Growth
Macroeconomics Chapter 3
1
Economic Growth and Standard of Living
Macroeconomics Chapter 3
2
ห้องสมุดไป่ตู้
World Distribution of Real GDP
8
Long Term Economic Growth in OECD Countries
Macroeconomics Chapter 3
9
Productivity Slowdown
The decline in the growth rate of real GDP per person from 3.1% per year for 1960–1980 to 1.8% per year for 1980–2000 is sometimes called the productivity slowdown.
In particular, why did the East Asian countries do so much better than the subSaharan African countries?
Macroeconomics Chapter 3
11
Growth Questions
How did countries such as the United States and other OECD members sustain growth rates of real GDP per person of around 2% per year for a century or more?
14
Macroeconomics Chapter 3
15
Macroeconomics Chapter 3
16
Production Functions
MPL – Marginal Product of Labor
Diminishing Marginal Product of labor
MPK – Marginal Product of Capital
Solow residual
Macroeconomics Chapter 3
Diminishing Marginal Product of Capital
Macroeconomics Chapter 3
17
Constant Returns to Scale
Constant Returns to Scale
Double K and L and Y will also double
The growth rate of real GDP, ∆Y/Y, equals the growth rate of technology, ∆A/A, plus the contributions from the growth of capital, α·(∆K/K), and labor, β·(∆L/L).
Macroeconomics Chapter 3
12
Growth Questions
What can policymakers do to increase growth rates of real GDP per person?
Macroeconomics Chapter 3
13
Production Function
Therefore, if we multiply K and L by the quantity 1/L we also multiply Y by 1/L to get
Y/L = A·F(K/L, L/L)
Macroeconomics Chapter 3
18
Per Worker Production Function
y=f(k)
y output per worker k capital per worker
Macroeconomics Chapter 3
19
Macroeconomics Chapter 3
20
An example: Cobb-Douglas Production Function
Y AK L1
Macroeconomics Chapter 3
3
Macroeconomics Chapter 3
4
Macroeconomics Chapter 3
5
Macroeconomics Chapter 3
6
Macroeconomics Chapter 3
7
Macroeconomics Chapter 3
yY kK
L
L
y AK L1 AK L Ak L
MPK dY AK L 1 1 AK L1 / K Y / K
dK
MPK K /Y
Macroeconomics Chapter 3
21
Contributions to GDP Growth
∆Y/Y = ∆A/A + α·(∆K/K) + β·(∆L/L)
Macroeconomics Chapter 3
10
Growth Questions
What factors caused some countries to grow fast and others to grow slow over periods such as 1960 to 2000?
Y = A·F(K, L)
A Technology Level K Capital Stock – machines and
buildings used by business. L Labor Force – number of workers
Macroeconomics Chapter 3
World Distribution of Per Capita income in 2000
World Distribution of Per Capita Income in 1960
Growth Rate in Per capita Income 1960-2000.
Income Inequality.
Introduction to Economic Growth
Macroeconomics Chapter 3
1
Economic Growth and Standard of Living
Macroeconomics Chapter 3
2
ห้องสมุดไป่ตู้
World Distribution of Real GDP
8
Long Term Economic Growth in OECD Countries
Macroeconomics Chapter 3
9
Productivity Slowdown
The decline in the growth rate of real GDP per person from 3.1% per year for 1960–1980 to 1.8% per year for 1980–2000 is sometimes called the productivity slowdown.
In particular, why did the East Asian countries do so much better than the subSaharan African countries?
Macroeconomics Chapter 3
11
Growth Questions
How did countries such as the United States and other OECD members sustain growth rates of real GDP per person of around 2% per year for a century or more?
14
Macroeconomics Chapter 3
15
Macroeconomics Chapter 3
16
Production Functions
MPL – Marginal Product of Labor
Diminishing Marginal Product of labor
MPK – Marginal Product of Capital
Solow residual
Macroeconomics Chapter 3
Diminishing Marginal Product of Capital
Macroeconomics Chapter 3
17
Constant Returns to Scale
Constant Returns to Scale
Double K and L and Y will also double
The growth rate of real GDP, ∆Y/Y, equals the growth rate of technology, ∆A/A, plus the contributions from the growth of capital, α·(∆K/K), and labor, β·(∆L/L).
Macroeconomics Chapter 3
12
Growth Questions
What can policymakers do to increase growth rates of real GDP per person?
Macroeconomics Chapter 3
13
Production Function
Therefore, if we multiply K and L by the quantity 1/L we also multiply Y by 1/L to get
Y/L = A·F(K/L, L/L)
Macroeconomics Chapter 3
18
Per Worker Production Function
y=f(k)
y output per worker k capital per worker
Macroeconomics Chapter 3
19
Macroeconomics Chapter 3
20
An example: Cobb-Douglas Production Function
Y AK L1
Macroeconomics Chapter 3
3
Macroeconomics Chapter 3
4
Macroeconomics Chapter 3
5
Macroeconomics Chapter 3
6
Macroeconomics Chapter 3
7
Macroeconomics Chapter 3
yY kK
L
L
y AK L1 AK L Ak L
MPK dY AK L 1 1 AK L1 / K Y / K
dK
MPK K /Y
Macroeconomics Chapter 3
21
Contributions to GDP Growth
∆Y/Y = ∆A/A + α·(∆K/K) + β·(∆L/L)
Macroeconomics Chapter 3
10
Growth Questions
What factors caused some countries to grow fast and others to grow slow over periods such as 1960 to 2000?
Y = A·F(K, L)
A Technology Level K Capital Stock – machines and
buildings used by business. L Labor Force – number of workers
Macroeconomics Chapter 3
World Distribution of Per Capita income in 2000
World Distribution of Per Capita Income in 1960
Growth Rate in Per capita Income 1960-2000.
Income Inequality.