Sveriges lantbruksuniversitet, ECON 808
Excerpt: ... of GDP data for international comparisons. If your chosen country is not available on the PWT, I suggest chosing a country that is. If you prefer, you can track down your own data. The web address for the PWT data set is http:/datacentre.chass.utoronto.ca/pwt/index.html a) I would like to see the following things (the printouts and graphs should be clearly labeled): ECON 808, Fall 2004 1. A printout from your computer program showing annual time series on (a) Capital per worker (b) Real GDP per worker (c) The growth rates for capital per worker and real GDP per worker (d) The Solow residual (growth rate of TFP) 2. A graph (also from your computer program) showing the time series of (a) The growth rate of capital per worker (b) The growth rate of real GDP per worker (c) The Solow residual 3. For the entire time frame of available data: (a) The average annual growth rate in capital per worker (b) The average annual growth rate in real GDP per worker (c) The average annual growth rate in TFP 3 (d) The perce ...
Punjab Engineering College, PHI 407
Excerpt: ... ECO 407 Name: _ Macroeconomic Theory Student Number: _ QUIZ 3 Part I- Short essay [45 Points] Result: _ 1. What are some costs and benefits of economic growth? Write a small paragraph arguing that the benefits exceed the costs. _ _ _ _ _ _ _ 2. What is a ...
UCSD, GENERAL ED MMW 1,2; E
Excerpt: ... How to Calculate Average Annual Growth Rates for Geometric Growth Suppose P=0.4 in year t=0 =0.7 in year t=10 % change in price from year 0 to 10 is 100 (0.7-0.4/0.4) = 75% How to calculate average annual growth when growth is geometric compounding. 75%/10 years = 7.5% not very accurate P(0) (1 +avg annual growth rate)^10 = P(10) A Useful Approximation Z=WxY Growth rate of Z is approx growth rate of W plus the growth rate of Y Works for more than two additional growth rates If Z = X/Y Growth rate of Z = grwth rate of X/ grwth rate of Y ...
Wisconsin, ECON 102
Excerpt: ... Econ 102 Lecture 1/30/2008 1:18:00 PM Growth Rate Calculation Recall growth rate formula : GDP1991 GDP1990 x100 o GDP1990 Suppose growth rate is constant at rate 4% per year since 1990. In 2008 it doubles! The Power of Growth: Rule of 70 Economists use rule of 70 to compute how many years it takes for a GDP to double o 70/g number of years after which GDP doubles Going back to our example from the previous slide: 70/4=17.5 years (about right!) Ex of Power of growtho Between 1950-2004 average annual growth rate was: In Argentina less than 1% In Japan about 4.5% In US about 2.2% o These growth rates imply: Income in Japan doubles every 15 year, 30years in US and 70 in Argentina o In the long run it makes a huge difference Business Cycle Fluctuations Business cycles- fluctuations in real GDP around its long-term growth trend Phases of the business cycle o Expansion- a period of real GDP increasing faster than usual o Contraction- a period of real GDP increasing slower than usual o Recession- a fall ...
Rutgers, ECONOMICS 103
Excerpt: ... a per capita 1960 1970 1980 1990 2000 $7,395 9,227 10,556 7,237 10,995 $832 1,275 1,204 1,183 1,349 $1,571 2,777 4,830 9,959 15,881 $12,414 16,488 21,337 26,470 33,308 2. The accompanying table shows the average annual growth rate in real GDP per capita for Argentina, Ghana, and South Korea using data from the Penn World Table, Version 6.1, for the past few decades. a. For each decade and for each country, use the Rule of 70 to calculate how long it would take for that country's real GDP per capita to double. b. Suppose that the average annual growth rate that each country achieved over the period 19902000 continues indefinitely into the future. Starting from 2000, use the Rule of 70 to calculate, where possible, the year in which a country will have doubled its real GDP per capita. Average annual growth rate of real GDP per capita Argentina Ghana South Korea Years 19601970 19701980 19801990 19902000 2.24% 1.35 -3.70 4.27 4.36% -0.57 -0.18 1.33 5.86% 5.69 7.51 4.7 ...