420worksheet13 - 4. Based on your understanding, are...

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ECON 420 – 002 and 004 Worksheet 13 Use Robert Lucas’ paper “Some Macroeconomics for the 21 st Century” to answer the following questions: 1. According to the model used to show Income paths in Figure, what is the growth rate of a country that began economic growth in 1900? 1950? 2000? 2. What has happened to the fraction of growing economies since 1800? 3. What has happened to growth rate of per capita production? Income inequality? When did growth rate of per capital production peak?
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Unformatted text preview: 4. Based on your understanding, are incomes of countries converging or diverging? Do you think that this is really happening in the real world? 5. What, according to Lucas, will happen to income inequality in 2100? 6. What do you think are some problems faced by developing nations that might hinder their economic growth? 7. What are some of the highlights of the “spillover” model as described in page 164?...
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This document was uploaded on 10/28/2011 for the course ECON 420 at UNC.

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