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    75 views138 pages

    Solucionario Rohaly PDF

    Uploaded by

    Apga13

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
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    of 138
    SOLUTIONS MANUAL TO ACCOMPAKY ROMER ADVANCED MACROECONOMICS JERFREY ROWALY Irwin/McGraw-Hill ego GoP;GoPscs8 PrinirBincer Greycen Press “This solutions manus is designed to accompany Advan Macroecnamic by David Roms. contains suggested solution eal ofthe endochapter problems, wi he exception of Some ofthe oops exerciues Ihave made every tempt to provide avery deal, sip-bystep answer to each problem Only base slgebrate manipulauons have bes occasionally ted Comments and suggestions for inpovement are welcomed and should be addressed to Jetrey Reha, Departmen of Economics, Universty of Cahfomsa, Barely, Califia 94720, can alsobe resched via e-mail at rohaly@econ berkeley la 1 would lke to thank David Romer for is geerous lp wh this manual. He provided many sopgestions and corrections that have erty improved the quality ofthese answers, Any eros that may remain ate, of couse, ny ove Sider Problem 2) Since there 20 technological progress, we can carry ct teenie analysis in terms of capital and ‘uct per worker ruber han eapral nd out pe unit of effective labor. With A constant, they bebave ‘Gevame. Thus fr the purposes of this problem we cn define y « Y/L and k » KIL. “Te filth population grovch rate makes the tyeak-even esment lie fazer. Inthe sbrence of technological progress, the per unt {ane change capa per worker, sven by Cy Kr sf(k)= (Geek. Since & was 0 before the decease ina ~ the economy was on balanced growth path ~ the decrease inn causes k to (oan # frcome portive, At, acral investment per woke, Si), now exceeds breakeven invesment per worker, Oye + B)K™. Thus k mover 3 new higher balanad-growth-pah level ~ se the diagram, ‘As rises,y ~ ouput per worker — also rises ‘Sisce a constant action of ouput saved, ¢— consumption per worker — ses as y mses. This ‘eal eummarzed nthe diagrams below. ©) By definition, output can be writen 38 YaLy, Thus the growth rte of ouput is YIV=ULes/y. On the ital balanced growth th, 5/20 = apn pr works it constant ~ 50 Y/V =L/L=n. Onthe fal balanced growth th, y= 0 again ~ output por worker iz oestant again ~and so Y/Y = L/L= mygew

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