Question: (d) (5 points) Download data on Chinese real GDP based from the Penn World Tables at the link here. Enter Chinese real GDP (PPP), series

(d) (5 points) Download data on Chinese real GDP
(d) (5 points) Download data on Chinese real GDP based from the Penn World Tables at the link here. Enter Chinese real GDP (PPP), series rgdpe, into column G of sheet 2b and population, series pop, into column H, and calculate real GDP per capita growth in column I. How does the simulated data in sheet 2a compare to this data? Try adjusting any model parameters or initial conditions to better match the simulated and observed data. Question 3 - One Child Policy (20 points) For this question, please use sheet 3. In addition to liberalizing its economy under the Reform and Opening Up policies of Deng Xiaoping, China also experienced a profound change in its demographic patterns in part driven by the imposition of the One Child policy. In this section, we adjust the model from question 2 to account for these demographic changes. (a) (5 points) In sheet 3, construct an alternative path for Chinese population (column B, rows 15 to 110) as follows. For 1955 to 2019, use the population growth data from Penn World tables. Then, from 2019 to 2050, assume a constant growth rate of -1% (n = -0.01). Based on the Penn World tables data what was the average growth rate of China's population each of the 20-year periods 1955-1975, 1975-1995, and 1995-2015? (Note: columns C, D, E, and F should update

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