NO.PZ202208160100000401
问题如下:
Using the specified growth accounting equation, which is the most appropriate conclusion Birol can make from his data on trends in the economy?
选项:
A.Daltonia’s economy is performing at a steady state rate of growth.
B.Output per worker is falling.
C.GDP growth is primarily driven by labor.
解释:
Solution
C is correct. The components of growth can be determined using Solow’s growth accounting equation: ΔY/Y = ΔA/A + αΔK/K + (1 − α)ΔL/Lwhere:
ΔY/Y = GDP percentage growth
ΔA/A = percentage growth from total factor productivity (TFP)
ΔK/K = percentage growth in capital
ΔL/L = percentage growth in labor
α = share of income paid to capital factor
1 – α = share of income paid to labor factor, also the elasticity of output with respect to labor
TFP = Labor productivity growth – Growth in capital deepening = 1.7 – 2.3 = –0.6, which is given in Exhibit 1. Also given, 1 – α = 0.65 and α = 0.35
Growth due to labor of 2.21% is greater than the growth due to capital or TFP.
A is incorrect. Once the economy reaches steady state growth, capital deepening cannot be a source of sustained growth in the economy.
B is incorrect. Output per worker is rising since GDP growth of 3.75% is greater than population growth of 3.4%.
中文解析:
C是正确的。增长的组成部分可以使用索洛的增长核算方程来确定:ΔY/Y = ΔA/A + αΔK/K +(1−α)ΔL/ l其中:
ΔY/Y = GDP增长率
ΔA/A =全要素生产率(TFP)增长百分比
ΔK/K =资本增长率
ΔL/L =劳动力增长率
α =支付给资本要素的收入份额
1 - α =支付给劳动要素的收入份额,也是产出相对于劳动的弹性
TFP =劳动生产率增长-资本深化增长= 1.7 - 2.3 = - 0.6,见表1。另外,1 - α = 0.65, α = 0.35
劳动力增长2.21%,高于资本或全要素生产率的增长。
A是不正确的。一旦经济达到稳定增长状态,资本深化就不可能成为经济持续增长的来源。
选项B不正确。人均产出在上升,因为3.75%的GDP增长大于3.4%的人口增长。
这里计算growth due to labor时是65%*3.4%,3.4是人口增长,劳动力增长不是应该不能等同于人口增长?