Compute the growth rate of tfp

Reference no: EM132118487

Question: Growth accounting: Consider the following (made-up) statistics for some economies. Assume the exponent on capital is 1/3 and that the labor composition is unchanged. For each economy, compute the growth rate of TFP.

(a) A European economy: gY/L = 0.03, gK/L = 0.03.

(b) A Latin American economy: gY/L = 0.02, gK/L = 0.01.

Reference no: EM132118487

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