Macroeconomics+II_9_Growth_.pptx - Macroeconomics II Spring Semester 2018 LECTURE 9[JUNE 25 2018 Economic Growth(Solow Model 2 DOI YASUHIRO ASSOCIATE

Macroeconomics+II_9_Growth_.pptx - Macroeconomics II Spring...

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Macroeconomics II Spring Semester 2018 LECTURE 9 [JUNE, 25, 2018] Economic Growth (Solow Model_ 2) DOI, YASUHIRO ASSOCIATE PROFESSOR AT GRADUATE SCHOOL OF ECONOMICS
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Today’s Contents 1. Review of Basic Solow-Swan Model 2. Modern Phillips Curve 3. Expected Inflation 4. Aucken????? 5. Conceptualizing Phillips Curve
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1. Review of Basic Solow-Swan Model Solow model is composed of two key equations: Production Function Capital Accumulation: The net increase in the stock of capital Notation The net increase in the stock of physical capital ? , ? ? = ? ( ¿ ) ¿ ´ ? = ?? ?? : , : , : Y Output K Capital L Labor : K : , : s SavingRate d DepreciationRate
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1. Review of Basic Solow-Swan Model Solow model is composed of two equations: Production Function [GDP] In this economy there is only one good to produce and to consume How do we measure an economy? …Not with GDP [Scale of the country] We would like to simplify the equation… ? , ? ? = ? ( ¿ ) ¿
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1. Review of Basic Solow-Swan Model Solow model is composed of two equations: Production Function
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