ECO362H1 Lecture Notes - Lecture 1: Percentile, Thirunamam, Human Capital

48 views26 pages
17 May 2018
School
Department
Course
Introduction and Growth Facts
Stephen Ayerst
University of Toronto
1
Unlock document

This preview shows pages 1-3 of the document.
Unlock all 26 pages and 3 million more documents.

Already have an account? Log in
Two Questions
The main objective of this course is to address the following two
questions:
1. Why are some countries richer than others?
This is a question on levels
2. Why do some countries grow faster than others?
This is a question on the speed
How do we approach these questions?
Combine theory with data to analyze cross-country differences
Focus on quantifying the relative importance of channels
2
Unlock document

This preview shows pages 1-3 of the document.
Unlock all 26 pages and 3 million more documents.

Already have an account? Log in
Income Differences Across Countries
How should we measure development?
We will use output (GDP) per capita as our measure of
income / development
How large are income differences across countries?
90th Percentile vs 10th Percentile = 25.6 times
75th Percentile vs 25th Percentile = 8.8 times
Standard Deviation of Logs = 1.16
What drives these differences?
Observable versus unobservable factors
3
Unlock document

This preview shows pages 1-3 of the document.
Unlock all 26 pages and 3 million more documents.

Already have an account? Log in

Get access

Grade+
$40 USD/m
Billed monthly
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
10 Verified Answers
Class+
$30 USD/m
Billed monthly
Class+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
7 Verified Answers

Related textbook solutions

Related Documents

Related Questions