Due is 01/17 8 P.M Assume that production Y_t is given as a function of TFP A ba

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Due is 01/17 8 P.M

Assume that production Y_t is given as a function of TFP A bar, labor L_t and capital K_t by: Y_t = A bar K^1/3_t L^2/3_t. Express output per capital yt = Y_t/L_t, as a function of A bar and k_t = K_t/L_t. Download the data from the Penn World Tables, Version 8.1: http://www.rug. nl/research/ggdc/data/pwt/pwt-8.1. Under "Expert Data Access", click on "Excel format". Then import this Excel Workbook pwt81.xlsx into Google Sheets directly, or just copy paste all cells from sheet "Data" to a new blank sheet in Google Sheets, (it may take a while, given the size of the dataset) Use the "Filter" option on Google Sheets to keep the data only for year 2009. Then Copy and paste on a new Sheet the following series: rgdpo, rkna, pop. Use Sheet "Legend" in Workbook pwt81.xlsx to see what this data corresponds to. Then do the following: Draw a map of real capital/capita stock across countries (using constant 2005$). To do that, select your two data columns (one with country names, the other with capital/capita stocks that you will have created computing rkna/pop) and click on the "Insert chart" icon. Choose, in "Chart types", the first Map option. You can change the colors if you do not find them particularly informative, (with "advanced edit option") Use the same method to draw a map of real output/capita (given by rgdpo/pop).

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