University of Miami Growth Rate of Total Factor Productivity FRED Series Worksheet

Question Description

For data to use in these exercise, go to the federal reserve bank of st louis Fred database at research.stlouisfed.orgfred2

Question 1

Calculate and graph the growth rate of total factor productivity since 1960 using FRED series RTFPNAUSA632NRUG. How would you characterise the movements in productivity since 1960? How do recessions affect the growth rate of productivity? How was productivity affected by the oil shocks of 1973-1975. 1979-1980, 1990, and 2003-2008?

Question 2

Plot a graph of quarterly data for r4eal gdp and full employment GDP from 1970 to the present. In the FRED database, full employment GDP is called Real Potential GDP, FRED variable GDPPOT. Which variable is smoother How would you characterize the volatility of real GDP before 1980 compared with after 1980? From 1950 to 2010, how would you characterize the overall movements in the growth rate of real full employment GDP ?

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