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homework3 - Homework 3 Intermediate Macro 1. (2 points) Go...

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Homework 3 Intermediate Macro 1. (2 points) Go back to the BEA webpage and get annual data on Fixed Assets of the U.S. (be careful, get data in real terms!) 1 , hours worked (unfortunately the data for hours is divided in 3 tables: 6.9B, 6.9C, and 6.9D: you need to paste them together), and real output for 1948-2007. Assuming a Cobb-Douglas production function with = 0 : 3 2. (2 points) Business Cycle Expansions and Contractions. 2. Plot the real output from the BEA webpage (in quarterly terms) and highlight (for example, by using di±erent colors), the quarters where the NBER Business Cycle Dating Committee has declared that the U.S. economy was in a recession. 3. In a di±erent plot, draw the real output (in annual terms) and the Solow residual.
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homework3 - Homework 3 Intermediate Macro 1. (2 points) Go...

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