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23. Solow模型
P1 - Economists considered the use of additional inputs (Besides GDP) as the main source source of economic growth. The first attempts contradicted this view.
1/ GDP
2/ GNP
P2 - RMS formulated the basic relation: An economy's growth is the sum of the growths in the inputs of capital and labor, with weights, as well as a variable represents the increase in productivity. Thee productivity includes many factors.
P3 - Originally the 3 variables are assumed to be independent. The contrinution of productivity increase = output growth rate - Capital&Labor growth rate. => RMS: 85% US economic growth is attributable to productivity change.
P4 - MA applied a simiar technique. He interpreted the 85% as a measure of our ignorance.
=> From these anlyses, the country's LT economic growth had been a matter of using capital and labor more efficiently.
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