Homework3 北大周黎安微观经济学作业和答案.pdfVIP

Guanghua School of Management, Peking University Se Yan Intermediate Macroeconomics Spring 2012 Homework Assignment 3 Due on May 30 Question 1: Growth Rates If real GDP grows at 2% a year, how many years does it take for GDP to double? What is the general formula for the doubling of a time series that grows at x percent a year? Question 2: US Saving Rate Go to the BEA web page () and get quarterly data for U.S. personal saving rate from 1980 to 2009. (Look for “Personal saving as a percentage of disposable personal income” on Table 2.1 Personal Income and Its Disposition. Be smart and download the data, NOT copy them by hand). Plot the saving rate data over time (turn in the figure only do not show the table). What do you see? Can we find saving rate data for China? If so, do the same thing for the US. Question 3: GDP Growth Rates Data Go to Penn World Table (/php_site/pwt63/pwt63_form.php) and compute the average per capita real GDP growth rate for 10 countries between in 1971 and in 2000: you should choose 5 countries from “G7 countries” and another 5 countries should be less developed/developing countries and use “Real GDP per capita (Constant Prices: Laspeyres), derived from growth rates of c, g, i”. Briefly describe what you see in the data. Question 4: Solow Growth Model Consider the following version of the Solow growth model. Y is the total output. K is the capital stock. L is the number of workers. I is investment. s is the fraction of output that saved. Assume L is constant over time.