1. Copy the data (including headings) in to a new spreadsheet. You should have columns A through G and rows 1 through 68 filled with data. Row 1 is occupied by headings and Rows 2 through 68 are comprised of data spanning the years 1953 through 2019.
2. Using data on the capital stock (see legend) construct a measure of investment for the years 1954 through 2019. To do so, you will need to calculate the change in the capital stock between each consecutive year and add the amount of depreciation that occurs. Total depreciation over a year can be constructed by multiplying the size of the capital stock from the preceding year by the rate of depreciation for the current year. This amounts to taking the model's capital accumulation equation literally to back out a time-series for investment given a time series for the capital stock and the depreciation rate of capital. Save this imputed investment data in a column H and label it "I(t) : Imputed I" in your spreadsheet.
3. Construct an output measure for each year by adding your constructed measure of investment to the time-series for consumption that is included in the data set (Yt = Ct + It). Save this output data in a column I of your spreadsheet and labelitY =C+I.
4. Construct the annual growth rate of the labour force, nt, by calculating the growth rate of the labour force of each year between 1954 through 2019. Save this data in column J of your spreadsheet labelled "n(t) : emp growth rate".
National accounts-based variables Real GDP at constant 2017 national prices (in mil. 2017USS) mna labsh delta Real consumption at constant 2017 national prices (in mil. 2017US$) Capital stock at constant 2017 national prices (in mil. 2017U ) Share of labour compensation in GDP at current national prices Average depreciation rate of the capital stock Real 608 employment and population levels P0P emp avh Population (in millions) Number of persons engaged (In millions) Average annual hours worked by persons engaged Year rgdpa conna rnna labsh delta emp 1953 138968.328125 94520.25 733107.375 0.680492460727692 0.0220786686986685 3.65340876579285 1954 150078.1875 101888.0859375 771454.3125 0.680492460727692 0.0223101358860731 3.73108339309692 1955 155997.84375 104116.53125 810403.5 0.680492460727692 0.0225758161395788 3.81129145622253 1956 156355.90625 104347.6796875 838407.6875 0.680492460727692 0.0227802880108356 3.89543914794922 1957 159780.625 108564.0390625 867267.4375 0.680492460727692 0.0229278858751059 3.94643235206604 1958 170618.890625 112134.984375 905469.3125 0.680492460727692 0.0230945907533169 3.98142695426941 1959 181070.375 120277.6328125 947253.1875 0.680492460727692 0.0232805125415325 4.03041982650757 1960 185281.28125 122699 989916.75 0.685819327831268 0.0234572142362595 4.15540218353271 1961 187807.84375 126043.875 1020954.0625 0.680521786212921 0.0235781092196703 4.16740036010742 1962 199598.484375 132875.203125 1061094.75 0.670636415481567 0.0236915722489357 4.26738548278809 1963 213073.5 142066.3125 1102491.375 0.66170072555542 0.0238224528729916 4.38936805725098 1964 226548.46875 150140.109375 1152809 0.668188273906708 0.0239364635199308 4.54684543609619 1965 231601.609375 156117.875 1196973.625 0.680541634559631 0.0240205265581608 4.6845760345459 1966 245918.8125 163557.640625 1244982.75 0.676057040691376 0.0240973215550184 4.8534517288208 1967 258551.625 173090.484375 1293922.375 0.670348346233368 0.0242036338895559 5.00527954101563 1968 277079.75 181728.578125 1352203.125 0.664248585700989 0.0243349224328995 5.12748718261719 1969 297292.28125 193599.28125 1414031.5 0.656886160373688 0.0244635995477438 5.27084159851074 1970 309082.875 201436.75 1473595.625 0.671027183532715 0.0245420318096876 5.47068738937378 1971 321175.8125 208982.484375 1533065 0.67545211315155 0.0245688073337078 5.5827751159668 1972 329570.46875 218084.375 1592975.75 0.66993522644043 0.0245469845831394 5.65217733383179 1973 343093.96875 230013.859375 1655112.25 0.69223564863205 0.0244956333190203 5.7987699508667 1974 347725.40625 243248.140625 1705167.25 0.719803273677826 0.0244399420917034 5.89822244644165 1975 356723.5 249276.15625 1757197.75 0.713882863521576 0.0243951585143805 5.87368726730347 1976 369556.375 259713.734375 1811559.75 0.700886011123657 0.0243374165147543 5.96029710769653 1977 372870.84375 265463.4375 1867683.625 0.700094521045685 0.0242641530930996 6.0140118598938 1978 387947.84375 270533.84375 1932241.375 0.682669162750244 0.0242408104240894 6.03192615509033 1979 399719.125 275664.125 1995033.125 0.67145711183548 0.0242607034742832 6.11177444458008 1980 413060.8125 285446.0625 2069984.125 0.672304034233093 0.0243126507848501 6.27751445770264 1981 426809.28125 298530.25 2149184.5 0.677482724189758 0.0244219154119492 6.35634326934814 1982 417332.125 305820.59375 2207012.75 0.675740718841553 0.0245225224643946 6.34023141860962 1983 436451.34375 311665.28125 2267684.75 0.646006941795349 0.0246083047240973 6.24129390716553 1984 459362.125 319090.46875 2336902.5 0.64459490776062 0.0247394144535065 6.45838212966919 1985 477909 334915.1875 2409085.75 0.641788065433502 0.0249009113758802 6.68181467056274 1986 490101.28125 342826.5625 2475880 0.63194215297699 0.0250502377748489 6.97703170776367
