tailieunhanh - Macroeconomic theory and policy phần 10

Hãy để chúng tôi đầu tiên xem xét các bằng chứng về giá sản phẩm, mà là dựa trên công việc thực nghiệm của Bils và Klenow (2002) và Klenow và Krystov (2003): BẢNG Thời gian Giá Loại tiêu thụ, 1995-1997 Thể loại trung bình Thời gian Chia sẻ của chỉ số giá tiêu dùng (tháng) (%) Tất cả các Mục 4,3 71,2 Cung cấp dịch vụ thực phẩm Trang chủ Nội thất Trang phục Giao thông vận tải | . THOMAS MALTHUS 269 were generally in a bad state. It was generally thought that the plight of the poor was due to the landed aristocracy that they had the government levers in their hands and used them to advance the upper classes at the expense of the poor. In contrast Malthus explained the existence of the poor in terms of two unquenchable passions 1 the hunger for food and 2 the hunger for sex. The only checks on population growth were wars pestilence famine and moral restraints the willingness to refrain from sex . From these hungers and checks Malthus reasoned that the population increases in a geometric ratio while the means of subsistence increases in an arithmetic ratio. The most disturbing aspect of his theory was the conclusion that well-intentioned programs to help the poor would ultimately manifest themselves in the form of a greater population leaving per capita incomes at their subsistence levels. It was this conclusion that ultimately led people to refer to economics as the dismal science. The Malthusian Growth Model The Malthusian growth model can be formalized in the following way. There are two key ingredients to his theory 1 a technology for production of output and 2 a technology for the production of people. The first technology can be expressed as an aggregate production function Yt F K Nt where Yt denotes total real GDP K denotes a fixed stock of capital . land and Nt denotes population . the workforce of peasants . The production function F exhibits constant returns to scale in K and Nt. For example suppose that F is a Cobb-Douglas function so that F K N K1-3 N where 0 0 1. Because F exhibits constant returns to scale it follows that per capita income yt Yt Nt is an increasing function of the capital-labor ratio. Since capital land is assumed to be in fixed supply it follows that any increase in the population will lead to a lower capital-labor ratio and hence a lower level of per capita output. Using our Cobb-Douglas