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Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Qu determina el crecimiento?
Cul es el papel de la acumulacin de capital?
Cul es el papel del progreso tecnolgico?
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Y F (K ,N )
Y = produccin agregada (PIB).
K = capital: la suma de todas las mquinas, plantas y edificios de
oficinas de la economa.
N = trabajo: nmero de trabajadores que hay en la economa.
La funcin F, que nos dice cunto se produce con unas cantidades
dadas de capital y de trabajo, es la funcin de produccin agregada.
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Y F (K ,N )
El estado de la tecnologa es un conjunto de proyectos que
definen la variedad de productos y las tcnicas existentes para
producirlos.
Qu restricciones puede imponerse a esta funcin de produccin?
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
2 Y F ( 2 K ,2 N )
xY F (xK ,xN )
Y F (K , N ) K N
1
donde 0< <1
F ( xK , xN ) ( xK ) ( xN )1 xK N
xY
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Y
K N
K
F
, F
,1
N
N N
N
La cantidad de produccin por trabajador, Y/N, depende de la cantidad
de capital por trabajador, K/N.
Cuando aumenta el capital por trabajador, tambin aumenta la
produccin por trabajador.
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
y f k k
PM k
donde 0 1
f (k)
(k) 1 0
(k)
PM k
( 1)(k) 2 0 , ya que
(k)
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Los aumentos del capital por trabajador provocan un aumento cada vez
menor de la produccin por trabajador.
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Stock de
capital
Cambios
en el stock
de capital
Produccin
(= Renta)
AHORRO (S=sY)
Ahorro=Inversin
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Y
K
F
, 1
N
N
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Yt
K t
f
N
N
Un aumento del capital por trabajador provoca un
aumento de la produccin por trabajador.
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
I S (T G )
S sY
It sYt
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
t1
(1 ) K t I t
es la tasa de depreciacin
Sustituyendo
It sYt
t1
K t
Yt
(1 )
s
N
N
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
t1
K t
Yt
K t
s
N
N
N
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
N
N
Primera relacin:
El capital determina la
produccin.
t1
K t
Yt
K t
s
N
N
N
Segunda relacin:
La produccin
determina la
acumulacin de capital.
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Yt
K t
f
N
N
t1
K t
Yt
K t
s
N
N
N
K t 1 K t
N
N
Variacin del capital entre
el ao t y el ao t + 1
Kt
sf
N
Inversin
durante el ao t
Kt
N
Depreciacin
durante el ao t
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Figura 12.2
= sf
N
N
N
N
Se denomina estado estacionario de la economa a aquel estado en el que
la produccin por trabajador y el capital por trabajador ya no varan.
En el estado estacionario, igualando a cero el primer miembro de la
ecuacin anterior, tenemos que
K*
K *
sf
N
N
Y*
K *
f
N
N
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
2.
3.
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
N
N
K
N
K t
N
K t
N
t1
K t
s
N
t1
K t
K
K
= sf t t
N
N
N
K t
K t
N
N
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
Y*
K*
s
s
N
N
La produccin por trabajador en el estado estacionario es
igual al cociente entre la tasa de ahorro y la tasa de
depreciacin.
Un aumento de la tasa de ahorro y una reduccin de la
tasa de depreciacin provocan ambos un incremento del
capital por trabajador en el estado estacionario y un
aumento de la produccin por trabajador en el estado
estacionario.
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010
C
Y
K
N
N
N
Sabiendo que
entonces
K*
Y*
K*
N
N
s
s
C s
s 2 s (1 s )
( )
N
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, 1st Edition, Pearson Education Limited 2010