Study Guide for Midterm 2 - Econ114,Summer2010 I...

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Study Guide for Midterm 2 Econ 114, Summer 2010 I. Chapter 7: Productivity a. Productivity i. How does productivity and productivity growth differ across countries? ii. How much of the variation of income per capita and income growth rates across can be explained by differences in productivity and productivity growth rates? b. Production Function: ) 1 ( α α = h Ak y c. Development Accounting and Growth Accounting i. Estimating the relative importance of productivity and productivity growth rates. 1. ) 1 ( α α = h k y A 2. h k y A ˆ ) 1 ( ˆ ˆ ˆ α α = ii. Caveats 1. Must assume a specific functional form 2. Difficult to measure relative physical and human capital stocks iii. Relative importance of Productivity ~ 50% of income variation II. Chapter 8: Technology a. History of Technological Progress i. Agricultural Revolution ii. Industrial Revolution iii. Information Revolution b. Investment in Research and Development i. Investment in R&D positively correlated with income per capita ii.
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  • Summer '08
  • CindyBenelli
  • productivity growth, relative importance, productivity growth rates, productivity  growth rates., income growth  rates

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