宏观经济学-曼昆英文课件Tutorial-CHAP07.ppt
- 【下载声明】
1. 本站全部试题类文档,若标题没写含答案,则无答案;标题注明含答案的文档,主观题也可能无答案。请谨慎下单,一旦售出,不予退换。
2. 本站全部PPT文档均不含视频和音频,PPT中出现的音频或视频标识(或文字)仅表示流程,实际无音频或视频文件。请谨慎下单,一旦售出,不予退换。
3. 本页资料《宏观经济学-曼昆英文课件Tutorial-CHAP07.ppt》由用户(三亚风情)主动上传,其收益全归该用户。163文库仅提供信息存储空间,仅对该用户上传内容的表现方式做保护处理,对上传内容本身不做任何修改或编辑。 若此文所含内容侵犯了您的版权或隐私,请立即通知163文库(点击联系客服),我们立即给予删除!
4. 请根据预览情况,自愿下载本文。本站不保证下载资源的准确性、安全性和完整性, 同时也不承担用户因使用这些下载资源对自己和他人造成任何形式的伤害或损失。
5. 本站所有资源如无特殊说明,都需要本地电脑安装OFFICE2007及以上版本和PDF阅读器,压缩文件请下载最新的WinRAR软件解压。
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- 宏观经济学 英文 课件 Tutorial CHAP07
- 资源描述:
-
1、Chapter Seven1CHAPTER 7Economic Growth IIA PowerPointTutorialTo Accompany MACROECONOMICS, 6th. ed.N. Gregory MankiwByMannig J. SimidianChapter Seven2The Solow Growth Model is designed to show howgrowth in the capital stock, growth in the labor force, and advances in technology interact in an economy
2、, and how they affect a nations total output of goods and services.Lets now examine how the model treats the accumulation of capital.Chapter Seven3Chapter Seven4The production function represents the transformation of inputs (labor (L), capital (K), production technology) into outputs (final goods a
3、nd services for a certain time period).The algebraic representation is: Y = F ( K , L )The Production FunctionLets analyze the supply and demand for goods, andsee how much output is produced at any given timeand how this output is allocated among alternative uses. Key Assumption: The Production Func
4、tion has constant returns to scale.zzzChapter Seven5This assumption lets us analyze all quantities relative to the size of the labor force. Set z = 1/L.Y/ L = F ( K / L , 1 )Constant returns to scale imply that the size of the economy asmeasured by the number of workers does not affect the relations
5、hipbetween output per worker and capital per worker. So, from now on,lets denote all quantities in per worker terms in lower case letters.Here is our production function: , where f(k) = F(k,1).y = f( k )Chapter Seven6MPK = f(k k + 1) f (k k)f(k)The production function shows how the amount of capital
6、 perworker k determines the amountof output per worker y = f(k).The slope of the production function is the marginal product of capital: if k increases by 1 unit, y increases by MPK units.1MPKChapter Seven7y = c + i1)2)3)4)Investment = savings. The rate of saving s sis the fraction of output devoted
7、 to investment.Chapter Seven8Here are two forces that influence the capital stock: Investment: expenditure on plant and equipment. Depreciation: wearing out of old capital; causes capital stock to fall.Recall investment per worker i = s s y.Lets substitute the production function for y, we can expre
8、ss investmentper worker as a function of the capital stock per worker:i = s s f(k k)This equation relates the existing stock of capital k to the accumulationof new capital i.Chapter Seven9Investment, s f(k)Output, f (k)c (per worker)i (per worker)y (per worker)The saving rate s determines the alloca
9、tion of output between consumption and investment. For any level of k, output is f(k), investment is s f(k), and consumption is f(k) sf(k).Chapter Seven10Impact of investment and depreciation on the capital stock: D Dk k = i d dkChange incapital stockInvestmentDepreciationRemember investment equals
10、savings so, it can be written:D Dk = s s f(k k) d dkd dk kd dkDepreciation is therefore proportionalto the capital stock.Chapter Seven11Investment and depreciationCapital per worker, k ki* = d dk k*k k*k k1k k2At k k*, investment equals depreciation and capital will not change over time.Below k*, in
11、vestment exceeds depreciation, so the capital stock grows. Investment, s s f(k k)Depreciation, d dk kAbove k*, depreciation exceeds investment, so the capital stock shrinks. Chapter Seven12Investmentand depreciationCapital per worker, k ki* = d dk k*k k1 1*k k2*Depreciation, d dk kInvestment, s s1 1
12、 f(k k)Investment, s s2f(k k)The Solow Model shows that if the saving rate is high, the economy will have a large capital stock and high level of output. If the savingrate is low, the economy will have a small capital stock and alow level of output.An increase inthe saving ratecauses the capitalstoc
13、k to grow to a new steady state.Chapter Seven13The steady-state value of k that maximizes consumption is calledthe Golden Rule Level of Capital. To find the steady-state consumption per worker, we begin with the national income accounts identity: and rearrange it as:c = y - i.This equation holds tha
14、t consumption is output minus investment. Because we want to find steady-state consumption, we substitute steady-state values for output and investment. Steady-state output per worker is f (k*) where k* is the steady-state capital stock per worker. Furthermore, because the capital stock is not chang
15、ing in the steady state, investment is equal to depreciation dk*. Substituting f (k*) for y and dk* for i, we can write steady-state consumption per worker as c* = f (k*) - dk*.y - c + iChapter Seven14c*= f (k*) - dk*.According to this equation, steady-state consumption is whats leftof steady-state
展开阅读全文