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Where are these economies headed? Consider the following data: u n A 1.000 U.S.A Canada Argentina Thailand Cameroon 1.000 0.864 0.453 0.233 0.048 SK 0.204 0.246 0.144 0.213 0.102 11.9 11.4 8.5 6.1

Where are these economies headed? Consider the following data: u n A 1.000 U.S.A Canada Argentina Thailand Cameroon 1.000 0.864 0.453 0.233 0.048 SK 0.204 0.246 0.144 0.213 0.102 11.9 11.4 8.5 6.1 3-4 0.010 0.012 0.014 0.015 0.028 0.972 0.517 0.468 0.234 Assume that g + d =0.075, a=1/3, and p=0.10 for all countries. Using the following equation (equation 3.8 in Jones and Vollrath, 2013. Chapter 3, page 58), estimate the steady-state incomes of these economies, relative to the United States. Consider two extreme cases: (a) The 1990 TFP ratios maintained (b) The TFP levels converge completely. For each case, which economy will grow fastest in the next decade and which slowest? Why?

Question 1 Where are these economies headed? Consider the following data: u n A 1.000 U.S.A Canada Argentina Thailand Cameroo

Jun 05 2021 View more View Less

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