set2154a

# set2154a - Econ 154b Yale University Spring 2005 Prof Tony...

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Unformatted text preview: Econ 154b Yale University Spring 2005 Prof. Tony Smith HOMEWORK #2 This homework assignment is due at the beginning of lecture on Monday, January 31. 1. Do problem 1 on p. 108 in Chapter 3 of the textbook. Use U.S. annual data for the time period 1965–1992. As mentioned in the notes to Table 3.1 on p. 65 of the textbook, total employment in the U.S. (measured in thousands of workers) can be found at: ftp : // ftp . bls . gov / pub / special . requests / lf / aat1 . txt . Total employment is the fourth column in this table; use total employment of persons 16 years of age and over. To obtain series for U.S. real GDP and the U.S. capital stock (both in 1985 dollars) go to the Penn World Tables at: http : // datacentre . chass . utoronto . ca / pwt56 / docs / topic . html . There you will find series for “real GDP per capita in constant dollars using chain index” and “capital stock per worker” (both in 1985 international prices). You will also find a series for total population (in thousands). Multiply real GDP per capita by population to obtain real GDP; multiply capital stock per worker by total employment to obtain the aggregate capital stock. In addition to answering the questions in the textbook, compare your findings for productivity growth to those in Table 3.1, which uses a different set of sources for GDP and the capital stock....
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set2154a - Econ 154b Yale University Spring 2005 Prof Tony...

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