ofEconomicGrowth(宏观经济学-加州大学-詹姆斯·.pptx
- 文档编号:15167507
- 上传时间:2023-07-02
- 格式:PPTX
- 页数:65
- 大小:1.02MB
ofEconomicGrowth(宏观经济学-加州大学-詹姆斯·.pptx
《ofEconomicGrowth(宏观经济学-加州大学-詹姆斯·.pptx》由会员分享,可在线阅读,更多相关《ofEconomicGrowth(宏观经济学-加州大学-詹姆斯·.pptx(65页珍藏版)》请在冰点文库上搜索。
,CHAPTER4,TheTheoryofEconomicGrowth,1,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,Questions,Whataretheprincipaldeterminantsoflong-runeconomicgrowth?
Whatequilibriumconditionisusefulinanalyzinglong-rungrowth?
Howquicklydoesaneconomyheadforitssteady-stategrowthpath?
2,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,Questions,Whateffectdoesfasterpopulationgrowthhaveonlong-rungrowth?
Whateffectdoesahighersavingsratehaveonlong-rungrowth?
3,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,Long-RunEconomicGrowth.,isthemostimportantaspectofhowtheeconomyperformscanbeacceleratedbygoodeconomicpoliciescanberetardedbybadeconomicpolicies,4,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,Long-RunEconomicGrowth,Policiesandinitialconditionsaffectgrowththroughtwochannelstheirimpactontheleveloftechnologymultipliestheefficiencyoflabortheirimpactonthecapitalintensityoftheeconomythestockofmachines,equipment,andbuildingsthattheaverageworkerhasathisorherdisposal,5,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,Technology,leadstoahigherefficiencyoflaborskillsandeducationofthelaborforceabilityofthelaborforcetohandlemodernmachinestheefficiencywithwhichtheeconomysbusinessesandmarketsfunctionEconomistsaregoodatanalyzingtheconsequencesofbettertechnologyhavelesstosayaboutthesources,6,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,CapitalIntensity,Thereisadirectrelationshipbetweencapital-intensityandproductivityTwoprincipaldeterminantsinvestmentefforttheshareoftotalproductionsavedandinvestedinordertoincreasethecapitalstockinvestmentrequirementshowmuchofnewinvestmentisusedtoequipnewworkerswiththestandardlevelofcapitalortoreplaceworn-outorobsoletecapital,7,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,StandardGrowthModel,AlsocalledtheSolowmodelSteady-statebalanced-growthequilibriumthecapitalintensityoftheeconomyisstabletheeconomyscapitalstockandlevelofrealGDParegrowingatthesameratetheeconomyscapital-outputratioisconstant,8,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,StandardGrowthModel,Firstcomponentistheproductionfunctiontellsushowtheproductiveresourcesoftheeconomycanbeusedtoproduceanddeterminethelevelofoutput,Cobb-Douglasproductionfunction,9,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,StandardGrowthModel,ParametersofthemodelEistheefficiencyoflaborahigherlevelofEmeansthatmoreoutputperworkercanbeproducedforeachpossiblevalueofthecapitalstockperworkermeasureshowfastdiminishingmarginalreturnstoinvestmentsetin,10,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,StandardGrowthModel,01alevelofnearzeromeansthattheextraamountofoutputmadepossiblebyeachadditionalunitofcapitaldeclinesveryquicklyasthecapitalstockincreases,11,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,Figure4.1-TheCobb-DouglasProductionFunctionforParameterNearZero,12,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,StandardGrowthModel,01alevelofnearonemeansthatthenextadditionalunitofcapitalmakespossiblealmostaslargeanincreaseinoutputasthelastunitofcapitalalevelofequaltoonemeansthatchangesinoutputareproportionaltochangesincapital,13,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,Figure4.2-TheCobb-DouglasProductionFunctionforParameterNear1,14,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,Figure4.3-TheCobb-DouglasProductionFunctionisFlexible,15,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,StandardGrowthModel,Growthinlaborforce(L)assumethatLisgrowingataconstantrate(n),ifthisyearslaborforceisequalto10millionandthegrowthrateis2%peryear,nextyearslaborforcewillbe,16,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,Figure4.4-ConstantProportionalLabor-ForceGrowth(atRaten=2PercentperYear),17,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,StandardGrowthModel,Growthintheefficiencyoflabor(E)assumethatEisgrowingataconstantproportionalrate(g),ifthisyearsefficiencyoflaboris$10,000andthegrowthrateis1.5%peryear,nextyearsefficiencyoflaborwillbe,18,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,Figure4.5-ConstantProportionalGrowthintheEfficiencyofLabor(atRateg=1.5PercentperYear),19,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,StandardGrowthModel,SavingandinvestmentassumethataconstantshareofrealGDPissavedandinvestedeachyear(s)capitalstockdoesnotgrowbyfullamountofgrossinvestmentrepresentsthefractionofthecapitalstockthatwearsoutorisscrappedeachyear,20,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,Figure4.6-ChangesintheCapitalStock,21,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,StandardGrowthModel,AnexampleofcapitalaccumulationcurrentrealGDP=$8trillioncurrentcapitalstock=$24trillionsavingsrate=20%depreciationrate=4%,22,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,Figure4.7-AdditionstoandSubtractionsfromtheCapitalStock,23,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,SummaryofStandardGrowthModel,ThreeassumptionslaborforcegrowsatproportionalratenefficiencyoflaborgrowsatproportionalrategthereisaconstantproportionofrealGDPsavedandinvestedeachyear(s)ThecapitalstockchangesovertimeduetoinvestmentanddepreciationCobb-Douglasproductionfunction,24,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,EquilibriuminStandardGrowthModel,KeyeconomicvariablesinthegrowthmodelareneverconstantEquilibriumoccurswhenthevariablesaregrowingtogetheratthesameproportionalrateSteady-statebalancedgrowthoccurswhenthecapital-outputratioisconstantovertime,25,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,ThreeMathematicalRules,Theproportionalgrowthrateofaproduct(PQ)isthesumoftheproportionalgrowthratesofeachPandQTheproportionalgrowthrateofaquotient(E/Q)isthedifferenceoftheproportionalgrowthratesofthedividend(E)andthedivisor(Q),26,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,ThreeMathematicalRules,Theproportionalgrowthrateofaquantityraisedtoanexponent(Qy)isequaltotheexponent(y)timesthegrowthratesofthequantity(Q),27,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,GrowthofCapitalperWorker,Theproportionalgrowthrateofcapitalperworkerg(kt)is,Sincethisisagrowthrateofaquotient,itwillbeequaltothegrowthrateofcapitalminusthegrowthrateoflabor(n),28,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,Figure4.8-CalculatingtheProportionalGrowthRateoftheCapital-per-WorkerRatio,29,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,GrowthofCapitalperWorker,Thegrowthrateofcapitalstockis,Nextyearscapitalstockis,Makingthesubstitution,weget,30,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,GrowthofCapitalperWorker,Theproportionalgrowthrateofcapitalperworkeris,Letrepresentthecapital-outputratio(K/Y),31,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,GrowthofCapitalperWorker,Allelseequal,therateofgrowthofcapitalperworkerwillbelowerthehighertherateoflaborforcegrowth(n)thehighertherateofdepreciation()thelowertherateofsaving(s)thehigherthecapital-outputratio(),32,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,Figure4.9-Capital-per-WorkerGrowthasaFunctionoftheCapital-OutputRatio,33,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,GrowthofOutputperWorker,WiththeCobb-Douglasproductionfunction,outputperworkeris,Thegrowthrateofoutputperworkerg(yt)willbe,34,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,Figure4.10-CalculatingtheGrowthRateofOutputperWorker,35,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,GrowthofOutputperWorker,Sinceg(kt)isequalto(s/t)-n,wecansubstitute,andsimplifytoget,36,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,GrowthofCapital-OutputRatio,Equilibriumoccurswhenthecapital-outputratio(=K/Y)isconstantThegrowthrateofthecapital-outputratiog(t)isequaltothedifferenceinthegrowthrateofcapitalg(kt)andthegrowthrateofoutputg(yt),37,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,GrowthofCapital-OutputRatio,Wecanmakesubstitutionsforg(kt)andg(yt),andsimplifytoget,38,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,GrowthofCapital-OutputRatio,Thegrowthrateofthecapital-outputratiodependsonthebalancebetweeninvestmentrequirements(n+g+)investmenteffort(s)Allelseequal,ahigherinvestmentrequirementwillmeanalowergrowthrateofthecapital-outputratio,39,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,Figure4.11-GrowthoftheCapital-OutputRatio,40,Copyright2002byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,Steady-StateGrowthEquilibrium,occurswhenthecapital-outputratioisconstant,Ifts/(n+g+)thecapital-outputratiowillbeshrinkingIfts/(n+g+)thecapital-outputratiowillbegrowing,41,Copyright2002byTh
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- ofEconomicGrowth 宏观经济学 加州大学 詹姆斯