曼昆宏观经济学课件第八章.pdfVIP

Chapter 8: Economic Growth II 1 of 44 Learning objectives • Technological progress in the Solow model • Policies to promote growth • Growth empirics: Confronting the theory with facts • Endogenous growth: Two simple models in which the rate of technological progress is endogenous 2 of 44 Introduction In the Solow model of Chapter 7, • the production technology is held constant • income per capita is constant in the steady state. Neither point is true in the real world: • for instance U.S. real GDP per person grew by a factor of 4.8 between 1929 and 2001, or 2.2% per year. • examples of technological progress abound (see next slide) © 2008 Worth Publishers Macroeconomics, European Edition Mankiw • Taylor 3 of 44 Examples of technological progress • 1970: about 50,000 computers in the world 2002: 55% of U.K. households had 1 or more computers • The real price of computer power has fallen an average of 30% per year over the past three decades. • The average car built in 1996 contained more computer processing power than the first lunar landing craft in 1969. • Modems are 22 times faster today than two decades ago. • Since 1980, semiconductor usage per unit of GDP has increased by a factor of 3500. • 1981: 213 computers connected to the Internet 2000: 60 million computers connected to the Internet © 2008 Worth Publishers Macroeconomics, European Edition Mankiw • Taylor 4 of 44 Tech. progress in the Solow model • A new variable: E = labor efficiency ( • Assume: Technological progress is labor- augmenting : it increases labor efficiency at the exo