USA

19291931

19331935

19371939

19411943

19451947

19491951

19531955

19571959

19611963

19651967

19691971

19731975

19771979

19811983

19851987

19891991

19931995

19971999

20012003

20052007

20092011

0

0.1

0.2

0.3

0.4

0.5

0.6

0.7

0.8

Labor Share of Income

19601962

19641966

19681970

19721974

19761978

19801982

19841986

19882000

20022004

20062008

20100.39

0.41

0.43

0.45

0.47

0.49

0.51

0.53

0.55

1-a

Singapore Hong Kong

Y K L1960 13889.77 42908.55 1643.181961 14684.01 45635.73 1638.9491962 16763.31 49571.09 1973.6111963 19473.14 55302.86 2127.0321964 21095.9 61687.33 2472.091965 24161.11 68817.5 2483.2741966 24521.73 74510.98 2599.4741967 24882.34 78663.71 2961.4321968 25783.88 82143.72 3125.8641969 28668.79 85838.06 3545.2361970 31373.39 90358.26 3697.3451971 33618.41 96498.97 3735.9561972 37159.01 103267.8 3832.3621973 41731.74 110992.2 3915.841974 42682.07 118312.3 4022.5041975 42858 125662.8 4172.5291976 49812.85 134332.1 4294.3671977 55689.74 146003.3 4395.8691978 60358.76 158905.7 4714.3411979 67374.81 173888.5 4917.0311980 74341.46 192274.8 5271.4131981 81321.18 212022.7 5609.8881982 83746.78 231339.7 5614.8831983 88704.48 247524.8 5628.2751984 97490.74 263539.5 5806.561985 98188.01 278684.1 5867.9571986 109024.6 294599.4 6042.3361987 123640.1 313443.3 6185.2071988 134081.2 333547.1 6325.2491989 137060.7 353706.8 6335.9372000 209125.1 709728.3 7757.7792001 210165.1 741331.4 7839.5452002 214034.1 768261.2 7792.6232003 220467.9 794824.2 7622.5342004 239134.2 821998.8 7852.4842005 256070.1 850512.1 7938.6962006 274045.5 882690.5 7967.0752007 291555.3 915379.7 8205.7492008 298279.5 947270.7 8117.7542009 290384.5 974849.3 8054.7132010 310833.3 1006278 8090.12011 326288.6 1041625 8389.369

Y K L1960 5218.701 19601.99 48442771961 5635.292 19927.94 48373561962 6027.931 20325.67 48304441963 6626.96 21289.18 48235231964 6372.277 22065.46 48166311965 6849.214 23167.04 48097501966 7586.666 24458.48 48028591967 8514.022 26251.43 47959791968 9668.454 28403.71 47891281969 10981.3 31515.63 47822681970 12487.23 35936.03 47754181971 13991.97 41432.99 47685781972 15881.3 47597.38 47617491973 17644.15 54098.2 47549301974 18787.9 61241.25 47464241975 19658.61 67582.76 47379071976 21113.57 74038.82 47294371977 22689.06 80398.48 47209571978 24657.67 87862.23 47125061979 26974.74 96311.43 47040631980 29685.01 106798.7 46956291981 32868.8 118899 46872041982 35230.82 133934.1 46788081983 38249.28 150667.3 46704211984 41624.8 169004.3 46620431985 41354.25 183620 46536741986 41886.6 194959.9 46453331987 46398.71 205752.7 46370021988 51536.62 216756.6 46286801989 56807.88 230368.1 46203872000 124722.9 542647.6 46536002001 123283.1 576122.8 45766872002 128463.4 600887.4 45591552003 134347.3 622268.3 45614322004 146652.3 648528.1 45934692005 157461.2 673685.5 46156102006 171260.5 706109.2 45881232007 186429 748357.7 46003452008 189600.2 799988.1 46026372009 187742.6 846566.5 45750962010 215459.5 898405.4 45972722011 225993.6 951684.2 4599559

Hong Kong

Singapore

gY gK gL a*gK (1-a)*gL gTFP gy gk

19601961 0.055607 0.06162 -0.00258 0.032067 -0.00124 0.024776 0.058185 0.064198 0.0247761962 0.132433 0.082717 0.18581 0.043046 0.089114 0.000273 -0.05338 -0.10309 0.0002731963 0.149844 0.109417 0.074862 0.056941 0.035904 0.056999 0.074981 0.034555 0.0569991964 0.080043 0.109254 0.150337 0.056856 0.072101 -0.04891 -0.07029 -0.04108 -0.048911965 0.135666 0.109379 0.004514 0.056921 0.002165 0.07658 0.131152 0.104866 0.076581966 0.014815 0.079488 0.045731 0.041366 0.021933 -0.04848 -0.03092 0.033757 -0.048481967 0.014599 0.054235 0.130364 0.028224 0.062523 -0.07615 -0.11577 -0.07613 -0.076151968 0.035591 0.043288 0.054038 0.022527 0.025916 -0.01285 -0.01845 -0.01075 -0.012851969 0.10606 0.043992 0.125894 0.022894 0.060379 0.022787 -0.01983 -0.0819 0.0227871970 0.090151 0.05132 0.04201 0.026707 0.020148 0.043296 0.048141 0.00931 0.0432961971 0.069114 0.06575 0.010389 0.034216 0.004983 0.029915 0.058725 0.055361 0.0299151972 0.100132 0.067793 0.025477 0.035279 0.012219 0.052634 0.074655 0.042315 0.0526341973 0.116056 0.072135 0.021549 0.037539 0.010335 0.068182 0.094507 0.050586 0.0681821974 0.022517 0.063868 0.026875 0.033237 0.012889 -0.02361 -0.00436 0.036993 -0.023611975 0.004113 0.060274 0.036618 0.031367 0.017562 -0.04482 -0.0325 0.023656 -0.044821976 0.15038 0.066713 0.028782 0.034717 0.013804 0.101859 0.121599 0.037931 0.1018591977 0.111523 0.083314 0.023361 0.043357 0.011204 0.056962 0.088162 0.059953 0.0569621978 0.08051 0.084681 0.069944 0.044068 0.033545 0.002897 0.010566 0.014738 0.0028971979 0.109965 0.090103 0.042096 0.04689 0.020189 0.042886 0.067869 0.048008 0.0428861980 0.098398 0.100512 0.069593 0.052306 0.033377 0.012714 0.028804 0.030918 0.0127141981 0.089738 0.097768 0.062232 0.050981 0.029781 0.008975 0.027505 0.035535 0.0089751982 0.029391 0.087194 0.00089 0.044656 0.000434 -0.0157 0.028501 0.086304 -0.01571983 0.057513 0.067624 0.002382 0.033565 0.0012 0.022748 0.05513 0.065241 0.0227481984 0.094447 0.062693 0.031185 0.030958 0.015786 0.047703 0.063262 0.031508 0.0477031985 0.007127 0.055875 0.010518 0.027153 0.005407 -0.02543 -0.00339 0.045357 -0.025431986 0.104689 0.055538 0.029284 0.026836 0.015134 0.062719 0.075405 0.026254 0.0627191987 0.125802 0.062002 0.02337 0.031209 0.011607 0.082987 0.102432 0.038632 0.0829871988 0.08107 0.062165 0.022389 0.032292 0.010759 0.038019 0.058681 0.039777 0.0380191989 0.021978 0.058684 0.001688 0.030425 0.000813 -0.00926 0.02029 0.056996 -0.009262000 0.422509 0.696414 0.202458 0.342218 0.10297 -0.02268 0.22005 0.493955 -0.022682001 0.004961 0.043566 0.010485 0.020221 0.005618 -0.02088 -0.00552 0.033081 -0.020882002 0.018242 0.035682 -0.006 0.016398 -0.00324 0.005089 0.024245 0.041685 0.0050892003 0.029617 0.033991 -0.02207 0.015687 -0.01188 0.025814 0.051686 0.05606 0.0258142004 0.081272 0.033618 0.029721 0.015842 0.015715 0.049715 0.051551 0.003897 0.0497152005 0.068426 0.0341 0.010919 0.016566 0.005615 0.046246 0.057507 0.023181 0.0462462006 0.067843 0.037136 0.003568 0.018399 0.0018 0.047643 0.064274 0.033567 0.0476432007 0.061936 0.036364 0.029517 0.018102 0.014824 0.02901 0.032418 0.006847 0.029012008 0.022801 0.034246 -0.01078 0.016811 -0.00549 0.011479 0.033583 0.045027 0.0114792009 -0.02682 0.028698 -0.0078 0.013561 -0.00411 -0.03627 -0.01903 0.036494 -0.036272010 0.068051 0.031731 0.004384 0.014782 0.002342 0.050927 0.063667 0.027347 0.0509272011 0.048525 0.034524 0.036324 0.016285 0.01919 0.013051 0.012201 -0.0018 0.013051

Hong Kong

Singapore

gY gK gL a*gK (1-a)*gL gTFP gy gk gTFP

19601961 0.0768 0.016492 0.037395 0.00986 0.015037 0.051903 0.039405 -0.0209 0.0463731962 0.067355 0.019762 0.031669 0.011816 0.012734 0.042805 0.035686 -0.01191 0.0396551963 0.094742 0.046314 0.029142 0.027691 0.011718 0.055333 0.065601 0.017173 0.0598771964 -0.03919 0.035815 0.029771 0.021414 0.011971 -0.07257 -0.06896 0.006044 -0.070971965 0.072177 0.048717 0.027787 0.029128 0.011173 0.031876 0.04439 0.02093 0.0374141966 0.102258 0.054247 0.028396 0.032434 0.011418 0.058406 0.073863 0.025851 0.0652461967 0.115322 0.070744 0.026233 0.042298 0.010548 0.062476 0.089089 0.04451 0.0742521968 0.127154 0.078799 0.020666 0.047114 0.00831 0.07173 0.106488 0.058134 0.087111969 0.127325 0.103964 0.018947 0.06216 0.007619 0.057546 0.108378 0.085017 0.0800391970 0.128513 0.131257 0.019115 0.078478 0.007686 0.042348 0.109398 0.112141 0.0720171971 0.113777 0.142337 0.048131 0.085103 0.019354 0.00932 0.065646 0.094206 0.0342441972 0.126659 0.1387 0.047227 0.082929 0.01899 0.02474 0.079432 0.091473 0.0489411973 0.105262 0.128023 0.046208 0.076545 0.01858 0.010136 0.059054 0.081815 0.0317821974 0.062809 0.12402 0.043393 0.074152 0.017449 -0.02879 0.019415 0.080627 -0.007461975 0.045302 0.098532 0.040804 0.058912 0.016407 -0.03002 0.004499 0.057728 -0.014741976 0.0714 0.091237 0.037675 0.05455 0.015149 0.001701 0.033725 0.053561 0.0158711977 0.071967 0.082406 0.035699 0.04927 0.014355 0.008342 0.036268 0.046707 0.0206991978 0.083205 0.088775 0.035254 0.053078 0.014175 0.015951 0.047951 0.053521 0.0301111979 0.089813 0.091817 0.061088 0.054897 0.024563 0.010352 0.028725 0.030729 0.0184821980 0.095741 0.103359 0.054711 0.061798 0.021999 0.011943 0.04103 0.048648 0.0248141981 0.101882 0.107329 0.037641 0.063522 0.015363 0.022996 0.064241 0.069688 0.0410121982 0.069398 0.119073 0.032154 0.067515 0.013923 -0.01204 0.037244 0.086919 0.0082711983 0.082203 0.117727 0.032588 0.063702 0.014954 0.003547 0.049616 0.085139 0.0212361984 0.084571 0.114849 0.01723 0.060641 0.008133 0.015798 0.067341 0.097619 0.0348011985 -0.00652 0.082945 -0.00959 0.042754 -0.00465 -0.04463 0.003069 0.092535 -0.027781986 0.012791 0.059926 0.002541 0.031776 0.001194 -0.02018 0.01025 0.057385 -0.008881987 0.102306 0.053881 0.043667 0.030373 0.019052 0.052881 0.058638 0.010214 0.0552341988 0.105021 0.0521 0.042244 0.030215 0.017745 0.057061 0.062777 0.009856 0.0594921989 0.097383 0.060903 0.033882 0.035275 0.014258 0.04785 0.063501 0.027021 0.0544932000 0.786419 0.856782 0.377489 0.478384 0.166718 0.141317 0.40893 0.479293 0.2491662001 -0.01161 0.059861 0.051817 0.031517 0.024536 -0.06766 -0.06343 0.008043 -0.066112002 0.041161 0.042087 -0.03764 0.021833 -0.01811 0.037441 0.078798 0.079724 0.0522232003 0.044785 0.034964 -0.0188 0.018573 -0.00881 0.035026 0.063586 0.053765 0.0456642004 0.087636 0.041334 0.013773 0.022926 0.006134 0.058577 0.073863 0.027561 0.0646762005 0.071114 0.038058 0.018509 0.021921 0.007848 0.041345 0.052606 0.019549 0.0460892006 0.084007 0.047006 0.103859 0.027226 0.043704 0.013077 -0.01985 -0.05685 -0.00092007 0.084864 0.058111 0.067423 0.033603 0.028435 0.022826 0.017442 -0.00931 0.0205462008 0.016868 0.066716 0.10022 0.037654 0.043656 -0.06444 -0.08335 -0.0335 -0.072182009 -0.00985 0.056592 0.024641 0.030987 0.011149 -0.05198 -0.03449 0.031951 -0.045142010 0.137701 0.059433 0.059419 0.032783 0.026643 0.078274 0.078282 1.37E-05 0.0782772011 0.047734 0.057612 0.032304 0.032297 0.014194 0.001242 0.01543 0.025308 0.006994

0.091909 0.094698 0.042553 0.054368 0.017934 0.019606 0.049355 0.052144 0.031974

Hong Kong

Singapore

gY gK gL a*gK (1-a)*gL gTFP gy gk gTFP0.091909 0.094698 0.042553 0.054368 0.017934 0.019606 0.049355 0.052144 0.031974

gY gK gL a*gK (1-a)*gL gTFP gy gk gTFP0.076991 0.077792 0.039764 0.039353 0.019349 0.018289 0.037227 0.038028 0.024551

Average annual hours

worked by

persons engaged

Capital stock at current PPPs (in

mil. 2005US$)

Index of human capital

per person,

based on years of

schooling (Barro/Lee, 2012)

and returns

to educatio

n (Psacharopoulos,

1994)

Number of

persons engaged

(in millions)

Output-side real GDP at current PPPs (in

mil. 2005US$)

TFP level at

current PPPs

(USA=1)

APK y

2010 2010 2010 2010 2010 2010Brazil 1841 6191473 2.4467 99.3609 1681384 0.4341 0.271565 9.191739 4.789986 2.841555 1.161383 0.428293South Korea

2193.13 5367537 3.347 23.6071 1302802 0.69210.242719 25.16353 12.39719 5.356513 1.600392 0.59019

United States

1695.03 40731044 3.6187 140.8549 12993576 10.319009 54.42261 30.73838 9.812672 2.711657 1

Toggle display

Midterm Exam

• Tuesday, October 21, 2012, 9:20-10:50, LTE• Bring writing materials and calculator.• Coverage: Neo-classsical Economics, Economic

Growth• Semi-open book: Bring 1 A4 size piece of

paper with handwritten notes on both sides.

Midterm Exam

• Thursday, October 23, 2014, 9:30-11:10, LTG• Bring writing materials and calculator.• Coverage: Neo-classsical Economics, Economic

Growth• Semi-open book: Bring 1 A4 size piece of

paper with handwritten notes on both sides.