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arXiv 2009.10451econ.GNq-fin.EC
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经济的两种增长率

The Two Growth Rates of the Economy

Alexander Adamou, Yonatan Berman, Ole Peters

摘要:

经济增长以人均国内生产总值的相对变化率来衡量。然而,当收入遵循随机乘法增长时,从长期来看,总体平均(人均国内生产总值)增长率高于每个人实现的时间平均增长率。这个数学事实是遍历经济学的出发点。使用极高的总体平均增长率作为主要的增长衡量标准,会造成一种不完整的情况。同时报告总体平均增长率和时间平均增长率,可更好地为决策提供信息。我们严格分析这些增长率,并描述其演变在美国和法国在过去的50年。这两个增长率之间的差异产生了一个收入不平等的自然衡量标准,等于平均对数偏差。尽管时间平均增长率被估计为个人收入增长率的平均值,但它与收入流动性无关。

英文摘要:

Economic growth is measured as the rate of relative change in gross domestic product (GDP) per capita. Yet, when incomes follow random multiplicative growth, the ensemble-average (GDP per capita) growth rate is higher than the time-average growth rate achieved by each individual in the long run. This mathematical fact is the starting point of ergodicity economics. Using the atypically high ensemble-average growth rate as the principal growth measure creates an incomplete picture. Policymaking would be better informed by reporting both ensemble-average and time-average growth rates. We analyse rigorously these growth rates and describe their evolution in the United States and France over the last fifty years. The difference between the two growth rates gives rise to a natural measure of income inequality, equal to the mean logarithmic deviation. Despite being estimated as the average of individual income growth rates, the time-average growth rate is independent of income mobility.

机构、总结、中文摘要均由AI分析而来,可能存在错误,请以论文正文为准。

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