BasicTemplate_Solow_NoFormulas.xls - Raw Data WDI Data denotes key data used for the Solow model Basic Time Series GDP(constant LCU Labor force total

BasicTemplate_Solow_NoFormulas.xls - Raw Data WDI Data...

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Raw Data Page 1 WDI Data denotes key data used for the Solow model denotes calibrated function used in Solow model Basic Time Series 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 GDP (constant LCU) 5.128E+12 5.257E+12 5.154E+12 5.386E+12 5.774E+12 6.011E+12 6.217E+12 6.425E+12 6.690E+12 6.926E+12 7.055E+12 7.041E+12 7.276E+12 7.472E+12 7.776E+12 7.973E+12 8.271E+12 8.648E+12 9.013E+12 9.417E+12 9.765E+12 9.839E+12 9.998E+12 1.025E+13 1.062E+13 1.095E+13 1.127E+13 1.127E+13 1.127E+13 Labor force, total 1.124E+08 1.141E+08 1.157E+08 1.170E+08 1.188E+08 1.209E+08 1.228E+08 1.246E+08 1.263E+08 1.284E+08 1.293E+08 1.302E+08 1.322E+08 1.337E+08 1.358E+08 1.377E+08 1.398E+08 1.420E+08 1.441E+08 1.460E+08 1.479E+08 1.490E+08 1.497E+08 1.504E+08 1.516E+08 1.533E+08 1.552E+08 1.552E+08 1.552E+08 Gross fixed capital formation (constant LCU) 7.921E+11 8.006E+11 7.454E+11 7.964E+11 9.253E+11 9.812E+11 9.984E+11 1.009E+12 1.041E+12 1.074E+12 1.067E+12 1.013E+12 1.068E+12 1.143E+12 1.234E+12 1.312E+12 1.422E+12 1.547E+12 1.691E+12 1.832E+12 1.944E+12 1.908E+12 1.835E+12 1.891E+12 2.004E+12 2.122E+12 2.173E+12 2.173E+12 2.173E+12 Gross fixed capital formation (annual % growth) 0.04076 0.01073 -0.06895 0.06842 0.16185 0.06041 0.01753 0.01072 0.03122 0.03210 -0.00652 -0.05052 0.05429 0.06984 0.08016 0.06271 0.0844 0.0877 0.0932 0.0830 0.0614 -0.0187 -0.0382 0.0304 0.0601 0.0584 0.0241 0.0000 0.0000 Gross domestic savings (% of GDP) 1.979E+01 2.086E+01 1.808E+01 1.723E+01 1.872E+01 1.753E+01 1.668E+01 1.631E+01 1.653E+01 1.706E+01 1.630E+01 1.578E+01 1.589E+01 1.602E+01 1.678E+01 1.690E+01 1.732E+01 1.823E+01 1.812E+01 1.751E+01 1.660E+01 1.520E+01 1.400E+01 1.350E+01 1.367E+01 1.373E+01 1.380E+01 1.380E+01 1.380E+01 Average savings rate 0.1660 α = 0.3300 δ = 0.0400 0.0005 9.80759E+012 9.80759E+012 1.02159E+013 1.05526E+013 1.09269E+013 1.14152E+013 1.19398E+013 1.24606E+013 1.29712E+013 1.34930E+013 1.40273E+013 1.45332E+013 1.4965E+013 1.5434E+013 1.596E+013 1.6556E+013 1.72052E+013 1.7939E+013 1.87690E+013 1.9710E+013 2.07530E+013 2.18671E+013 2.290033E+013 2.38193E+013 2.47572E+013 7714E+013 2.68620E+013 2.79602E+013 2.90E+013 3.00E+013 Average ΔY/Y = 0.03087 0.02523 -0.01974 0.04515 0.07198 0.04105 0.03430 0.03344 0.04123 0.03532 0.01858 -0.00194 0.03336 0.02691 0.04062 0.02537 0.03745 0.04548 0.04220 0.04489 0.03692 0.00759 0.01613 0.02523 0.03650 0.03075 0.02873 0.00000 0.00000 ΔK/K = 0.04113 0.04163 0.03296 0.03547 0.04468 0.04596 0.04362 0.04098 0.04022 0.03960 0.03607 0.02971 0.03137 0.03404 0.03734 0.03923 0.04267 0.04625 0.05012 0.05294 0.05368 0.04725 0.04013 0.03938 0.04096 0.04232 0.04088 0.03771 0.03488 ΔL/L = 0.01250 0.01556 0.01414 0.01120 0.01474 0.01756 0.01590 0.01514 0.01337 0.01651 0.00748 0.00632 0.01595 0.01077 0.01632 0.01340 0.01521 0.01613 0.01461 0.01315 0.01292 0.00739 0.00520 0.00441 0.00804 0.01094 0.01277 0.00000 0.00000 α*ΔK/K = 0.01357 0.01374 0.01088 0.01170 0.01474 0.01517 0.01439 0.01352 0.01327 0.01307 0.01190 0.00980 0.01035 0.01123 0.01232 0.01295 0.01408 0.01526 0.01654 0.01747 0.01772 0.01559 0.01324 0.01299 0.01352 0.01397 0.01349 0.01244 0.01151 (1 - α)*ΔL/L = 0.00838 0.01042 0.00947 0.00750 0.00988 0.01176 0.01065 0.01015 0.00896 0.01106 0.00501 0.00424 0.01069 0.00721 0.01094 0.00898 0.01019 0.01081 0.00979 0.00881 0.00866 0.00495 0.00349 0.00296 0.00539 0.00733 0.00856 0.00000 0.00000 TFP = (1-α)ΔA/A = 0.00892 0.00107 -0.04009 0.02594 0.04736 0.01412 0.00926 0.00977 0.01900 0.01120 0.00167 -0.01598 0.01232 0.00847 0.01736 0.00345 0.01318 0.01941 0.01587 0.01862 0.01055 -0.01296 -0.00060 0.00928 0.01759 0.00946 0.00668 -0.01244 -0.01151 Harrod rate of technical change: x = TFP/(1 - α) = 0.01332 0.00160 -0.05984 0.03872 0.07068 0.02107 0.01382 0.01458 0.02835 0.01671 0.00249 -0.02385 0.01839 0.01263 0.02591 0.00515 0.01967 0.02897 0.02368 0.02778 0.01575 -0.01934 -0.00089 0.01384 0.02626 0.01412 0.00997 -0.01857 -0.01718 Calculating the scaling parameter, B 0.80995 0.82073 0.83166 0.84274 0.85396 0.86533 0.87686 0.88853 0.90037 0.91236 0.92451 0.93682 0.94929 0.96193 0.97474 1.00000 1.01967 1.04921 1.07406 1.10390 1.12128 1.09960 1.09862 1.11383 1.14308 1.15922 1.17077 1.14903 1.12929 B = 1230.52 1221.02 1162.74 1181.89 1225.72 1231.71 1231.96 1232.83 1244.76 1247.33 1238.46 1208.25 1212.07 1211.43 1221.17 1204.56 1204.34 1203.98 1203.72 1203.46 1203.38 1203.95 1204.11 1204.12 1203.96 1203.88 1203.82 1204.24 1204.59 Growth Accounting: ΔY/Y = α(ΔK/K)+(1-α)ΔL/L+(1-α)ΔA/A Mean over ten years of GFK formation growth = g GFK = K 0 = (GFK 0 /(δ + g GFK ) = K t = K t-1 * (1-δ) + GFK t = A t =
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9.8076E+012
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  • Spring '14
  • McCullough,GerardJohn
  • Gross domestic savings, KT-1

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