From 1990 to 2004, labors share of income averaged 60% in Ireland, while real GDP grew at
Question:
a. Write an equation similar to Equation (4.5) on page 121 to show growth accounting for this economy.
b. The average annual growth of the capital stock over this period was 4.8%, and the average annual growth rate of hours worked was 2.0%.What was the contribution of technological growth?
c. Find the relative share of real GDP growth accounted for by the three determinants of real GDP.
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Related Book For
Macroeconomics
ISBN: 9780132109994
1st Edition
Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty
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