Beruflich Dokumente
Kultur Dokumente
Fluctuations of output
Blanchard: Macroeconomics
Blanchard: Macroeconomics
1973-1998
1950
1998
France
4.2
1.6
5,150
19,158
3.7
Germany
4.9
1.8
4,356
20,059
4.6
Japan
8.1
2.5
1,820
19,907
10.9
United Kingdom
2.5
1.9
6,870
19,005
2.8
United States
2.2
1.5
11,170
25,890
2.3
Average
4.4
1.9
5,872
20,804
3.5
Blanchard: Macroeconomics
Output
Population
Blanchard: Macroeconomics
Blanchard: Macroeconomics
Blanchard: Macroeconomics
Blanchard: Macroeconomics
Blanchard: Macroeconomics
Amount
(Dollars)
Percent of
Total
72.80
32.50
32.50
26.00
16.64
13.00
7.28
20.80
221.52
156.00
15.00
5.00
7.28
13.00
10.40
104.00
6.24
316.92
13.5
6.0
6.0
4.8
3.0
2.4
1.4
3.9
41.0
29.0
2.8
0.9
1.4
2.4
1.9
19.3
1.2
58.9
Blanchard: Macroeconomics
Blanchard: Macroeconomics
Three Conclusions:
Blanchard: Macroeconomics
Blanchard: Macroeconomics
Blanchard: Macroeconomics
F: Depends on technology
Blanchard: Macroeconomics
2Y = F(2K,2N)
xY = F(xK,xN)
Blanchard: Macroeconomics
xY f ( xK , xN )
1
x
N
Y
K
F ( ,1)
n
n
Blanchard: Macroeconomics
Y
output/wor ker
n
K
capital/wo rker
n
Y
K
F(K,1) : Y depends on
N
n
Blanchard: Macroeconomics
D
C
Blanchard: Macroeconomics
F(K/N, 1)
A
Capital per worker, K/N
Blanchard: Macroeconomics
Blanchard: Macroeconomics
Blanchard: Macroeconomics
Blanchard: Macroeconomics
End of Chapter
The Facts of Growth
The Long Run