巴罗宏观经济学：现代观点第3章.ppt

MacroeconomicsChapter3,1,IntroductiontoEconomicGrowth,Chapter3,MacroeconomicsChapter3,2,EconomicGrowthandStandardofLiving,MacroeconomicsChapter3,3,WorldDistributionofRealGDP,WorldDistributionofPerCapitaincomein2000WorldDistributionofPerCapitaIncomein1960GrowthRateinPercapitaIncome1960-2000.IncomeInequality.,MacroeconomicsChapter3,4,MacroeconomicsChapter3,5,MacroeconomicsChapter3,6,MacroeconomicsChapter3,7,MacroeconomicsChapter3,8,MacroeconomicsChapter3,9,LongTermEconomicGrowthinOECDCountries,MacroeconomicsChapter3,10,ProductivitySlowdown,ThedeclineinthegrowthrateofrealGDPperpersonfrom3.1%peryearfor19601980to1.8%peryearfor19802000issometimescalledtheproductivityslowdown.,MacroeconomicsChapter3,11,GrowthQuestions,Whatfactorscausedsomecountriestogrowfastandotherstogrowslowoverperiodssuchas1960to2000?Inparticular,whydidtheEastAsiancountriesdosomuchbetterthanthesub-SaharanAfricancountries?,MacroeconomicsChapter3,12,GrowthQuestions,HowdidcountriessuchastheUnitedStatesandotherOECDmemberssustaingrowthratesofrealGDPperpersonofaround2%peryearforacenturyormore?,MacroeconomicsChapter3,13,GrowthQuestions,WhatcanpolicymakersdotoincreasegrowthratesofrealGDPperperson?,MacroeconomicsChapter3,14,ProductionFunction,Y=AF(K,L)ATechnologyLevelKCapitalStockmachinesandbuildingsusedbybusiness.LLaborForcenumberofworkers,MacroeconomicsChapter3,15,MacroeconomicsChapter3,16,MacroeconomicsChapter3,17,ProductionFunctions,MPLMarginalProductofLaborDiminishingMarginalProductoflaborMPKMarginalProductofCapitalDiminishingMarginalProductofCapital,MacroeconomicsChapter3,18,ConstantReturnstoScale,ConstantReturnstoScaleDoubleKandLandYwillalsodoubleTherefore,ifwemultiplyKandLbythequantity1/LwealsomultiplyYby1/LtogetY/L=AF(K/L,L/L),MacroeconomicsChapter3,19,PerWorkerProductionFunction,y=f(k)youtputperworkerkcapitalperworker,MacroeconomicsChapter3,20,MacroeconomicsChapter3,21,Anexample:Cobb-DouglasProductionFunction,MacroeconomicsChapter3,22,ContributionstoGDPGrowth,Y/Y=A/A+(K/K)+(L/L)ThegrowthrateofrealGDP,Y/Y,equalsthegrowthrateoftechnology,A/A,plusthecontributionsfromthegrowthofcapital,(K/K),andlabor,(L/L).Solowresidual,MacroeconomicsChapter3,23,ContributionstoGDPGrowth,+=1Shareofcapitalincome()+shareoflaborincome()=1Y/Y=A/A+(K/K)+(L/L)0100).L/L=n,MacroeconomicsChapter3,27,SolowGrowthModel,MacroeconomicsChapter3,28,SolowGrowthModel,AssumeA/A=0Y/Y=(K/K)+(1)(L/L)ThegrowthrateofrealGDPisaweightedaverageofthegrowthratesofcapitalandlabor.,MacroeconomicsChapter3,29,SolowGrowthModel,Fromtheperworkerproductionfunctiony/y=Y/YL/Lk/k=K/KL/L,MacroeconomicsChapter3,30,SolowGrowthModel,Y/Y=(K/K)+(1)(L/L)Y/Y=(K/K)(L/L)+L/LY/YL/L=(K/KL/L)y/y=(k/k),MacroeconomicsChapter3,31,SolowGrowthModel,Eachhouseholddividesupitsrealincomeinafixedproportionstosavingand1stoconsumption(C).CapitaldepreciateatthesameconstantrateKistheamountofcapitalthatdepreciateseachyear,MacroeconomicsChapter3,32,SolowGrowthModel,Realsaving=s(YK)Realsaving=(savingrate)(realincome),MacroeconomicsChapter3,33,SolowGrowthModel,YK=C+s(YK)Realincome=consumption+realsaving,MacroeconomicsChapter3,34,SolowGrowthModel,Y=C+IRealGDP=consumption+grossinvestmentYK=C+(IK)RealNDP=consumption+netinvestment,MacroeconomicsChapter3,35,SolowGrowthModel,C+s(YK)=C+IKors(YK)=IKRealsaving=netinvestment,MacroeconomicsChapter3,36,SolowGrowthModel,K=IKChangeincapitalstock=grossinvestmentdepreciation,orChangeincapitalstock=netinvestmentK=s(YK)Changeincapitalstock=realsaving,MacroeconomicsChapter3,37,SolowGrowthModel,DividebothsidesbyKK/K=sY/Ks,MacroeconomicsChapter3,38,SolowGrowthModel,k/k=K/KL/Lk/k=s(Y/K)sn,MacroeconomicsChapter3,39,SolowGrowthModel,Y/K=(Y/L)/(K/L)Y/K=y/k,MacroeconomicsChapter3,40,SolowGrowthModel,k/k=s(y/k)sny/y=(k/k)y/y=s(y/k)sn,MacroeconomicsChapter3,41,SolowGrowthModel,MacroeconomicsChapter3,42,SolowGrowthModel,MacroeconomicsChapter3,43,SolowGrowthModel,steadystate.Whenk=k,k/kequalszero.k/k=0,kstaysfixedatthevaluek.y*=f(k*),Macroec