巴罗宏观经济学：现代观点第5章.ppt

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1、ConditionalConvergenceandLong-RunEconomicGrowthChapter51MacroeconomicsChapter5ConditionalConvergenceinPracticeGrowthrateofcapitalperworker,∆k/k:∆k/k=ϕ[k(0),k*](−)(+)y=A·f(k)GrowthrateofrealGDPperworkerisafunctionofinitialandsteady-staterealGDPperworker∆y/y=ϕ[y(0),y*](−)(+)2Mac

2、roeconomicsChapter5ConditionalConvergenceinPractice3MacroeconomicsChapter5ConditionalConvergenceinPracticeVariablesthatinfluencey*thatareheldconstant.AmeasureofthesavingrateThefertilityrateSubjectivemeasuresofmaintenanceoftheruleoflawanddemocracyThesizeofgovernmentTheextentofi

3、nternationalopenness,measuredbythevolumeofexportsandimportsChangesinthetermsoftradeMeasuresofinvestmentineducationandhealthTheaveragerateofinflation4MacroeconomicsChapter5ConditionalConvergenceinPracticeJapanandGermanyafter2ndworldwar.EastAsiacountriesAfricanCountries5Macroeco

4、nomicsChapter5Long-RunEconomicGrowthSolowmodel,thegrowthrateofcapitalperworker,k,isgivenby∆k/k=s·(y/k)−sδ−n6MacroeconomicsChapter5Long-RunEconomicGrowthAcaseinwhichcapitalbroadlydefinedtoincludehumanandinfrastructurecapitalistheonlyfactorinputtoproduction.AKmodely=Ak7Macroecon

5、omicsChapter5Long-RunEconomicGrowthk–capitalperworkery/k=A∆k/k=sA−sδ−n8MacroeconomicsChapter5Long-RunEconomicGrowth9MacroeconomicsChapter5Long-RunEconomicGrowthConclusionsThelong-rungrowthrateofcapitalperworker,∆k/k,isgreaterthanzeroandequaltosA−sδ−nGrowthratesofcapitalandreal

6、GDPperworker,∆k/kand∆y/y,donotchangeascapitalandrealGDPperworker,kandy,rise.pooreconomieswithlowkandydonottendtogrowfasterthanricheconomies10MacroeconomicsChapter5Long-RunEconomicGrowthTheregularprocessofimprovementintechnologyiscalledtechnologicalprogress.exogenoustechnologic

7、alprogress-theimprovementsintechnologywerenotexplainedwithinthemodel.∆A/A=g11MacroeconomicsChapter5Long-RunEconomicGrowthExogenousTechnologicalProgress∆Y/Y=∆A/A+α·(∆K/K)+(1−α)·(∆L/L)Using∆A/A=gandand∆L/L=n∆Y/Y=g+α·(∆K/K)+(1−α)·n∆y/y=∆Y/Y−∆L/L=∆Y/Y−n12MacroeconomicsChapter5Long

8、-RunEconomicGrowthExogenousTechnologicalProgress∆y/y=g+α·(∆K/