User:Issa Rice: Difference between revisions
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test >:( | test >:( | ||
==Questions== | |||
* How do we measure growth? How do we know what's growing? | |||
** How is GDP calculated? | |||
*** What choices/judgment calls are made in the calculation? | |||
**** What's up with all these price indices/PPP formulas/aggregation methods? | |||
**** Basket construction | |||
**** [[Validation table|Validation]] | |||
**** Going out and measuring things (surveys? taxation? some old dutch guy at a port kept import records?) | |||
*** Can we trust these GDP calculations? | |||
==Growth models== | |||
{| class="sortable wikitable" | {| class="sortable wikitable" | ||
! | ! Model name !! Endogenous variables !! Exogenous variables !! Constants !! Year introduced | ||
|- | |- | ||
| | | [[Harrod–Domar model|Harrod–Domar]] || || || || 1939 | ||
|- | |- | ||
| | | [[Solow–Swan model|Solow–Swan]] || || || || 1956 | ||
|- | |- | ||
| | | [[AK model|AK]] || | ||
|- | |- | ||
| Technology (knowledge) || ''A'', ''T'' || || No | | [[Leontief input–output model|Leontief input–output]] || | ||
|- | |||
| [[Feldman–Mahalanobis model|Feldman–Mahalanobis]] || | |||
|- | |||
| [[Becker–Barro model|Becker–Barro]] || || || || 1981, 1989 | |||
|- | |||
| [[Ramsey–Cass–Koopmans model|Ramsey–Cass–Koopmans]] || | |||
|- | |||
| [[Romer model|Romer]] || || || || 1990? | |||
|- | |||
| [[Schumpeterian model|Schumpeterian]] || | |||
|- | |||
| [[Product-variety model|Product-variety]] || | |||
|- | |||
| Semi-endogenous (Jones) | |||
|} | |||
{| class="sortable wikitable" | |||
! Production function name !! Models that use this production function | |||
|- | |||
| Cobb–Douglas || Solow–Swan | |||
|- | |||
| Leontief || | |||
|} | |||
Probably for each model, a table like this: | |||
{| class="sortable wikitable" | |||
! Name !! Variable !! Unit !! Rival input? !! Endogenous? !! Notes | |||
|- | |||
| Output || ''Y'' || || – || Yes || | |||
|- | |||
| Physical capital (capital stock) || ''K'' || || Yes || In Solow–Swan || Physical capital includes things like machines, computers, buildings, etc. | |||
|- | |||
| Labor || ''L'' || || Yes || Exogenous in Solow–Swan || | |||
|- | |||
| Technology (knowledge) || ''A'', ''T'' || || No || Not in Solow–Swan || | |||
|- | |- | ||
| Consumption || ''C'' || || | | Consumption || ''C'' || || | ||
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|- | |- | ||
| Growth of ''X'' || <math>g_X = \dot{X}/X = \frac{\frac{\partial X}{\partial t}}{X}</math> || || || | | Growth of ''X'' || <math>g_X = \dot{X}/X = \frac{\frac{\partial X}{\partial t}}{X}</math> || || || | ||
|- | |||
| Population growth || <math>n = \dot L / L</math> || || || | |||
|- | |- | ||
| Depreciation (rate?) || ''δ'', ''d'', ''D'' || | | Depreciation (rate?) || ''δ'', ''d'', ''D'' || | ||
|- | |- | ||
| Capital per worker || ''k'' = ''K''/''L'' || || | | Capital per worker || ''k'' = ''K''/''L'' || || || In Solow–Swan || | ||
|- | |- | ||
| Fraction saved || ''s'' || | | Fraction saved || ''s'' || | ||
|- | |- | ||
| Output per worker || ''y'' = ''Y''/''L'' || || | | Output per worker || ''y'' = ''Y''/''L'' || || || Yes || | ||
|- | |- | ||
| Time || ''t'' || || | | Time || ''t'' || || | ||
|- | |- | ||
| Production function || ''F'' || || || | | Production function || ''F'' || || || | ||
|- | |||
| || ''α'' || | |||
|} | |} |
Latest revision as of 01:29, 10 November 2017
test >:(
Questions
- How do we measure growth? How do we know what's growing?
- How is GDP calculated?
- What choices/judgment calls are made in the calculation?
- What's up with all these price indices/PPP formulas/aggregation methods?
- Basket construction
- Validation
- Going out and measuring things (surveys? taxation? some old dutch guy at a port kept import records?)
- Can we trust these GDP calculations?
- What choices/judgment calls are made in the calculation?
- How is GDP calculated?
Growth models
Model name | Endogenous variables | Exogenous variables | Constants | Year introduced |
---|---|---|---|---|
Harrod–Domar | 1939 | |||
Solow–Swan | 1956 | |||
AK | ||||
Leontief input–output | ||||
Feldman–Mahalanobis | ||||
Becker–Barro | 1981, 1989 | |||
Ramsey–Cass–Koopmans | ||||
Romer | 1990? | |||
Schumpeterian | ||||
Product-variety | ||||
Semi-endogenous (Jones) |
Production function name | Models that use this production function |
---|---|
Cobb–Douglas | Solow–Swan |
Leontief |
Probably for each model, a table like this:
Name | Variable | Unit | Rival input? | Endogenous? | Notes |
---|---|---|---|---|---|
Output | Y | – | Yes | ||
Physical capital (capital stock) | K | Yes | In Solow–Swan | Physical capital includes things like machines, computers, buildings, etc. | |
Labor | L | Yes | Exogenous in Solow–Swan | ||
Technology (knowledge) | A, T | No | Not in Solow–Swan | ||
Consumption | C | ||||
Investment | I | ||||
Amount saved | S | ||||
Growth of X | |||||
Population growth | |||||
Depreciation (rate?) | δ, d, D | ||||
Capital per worker | k = K/L | In Solow–Swan | |||
Fraction saved | s | ||||
Output per worker | y = Y/L | Yes | |||
Time | t | ||||
Production function | F | ||||
α |