Total Factor Productivity and GDP of Countries

The article explores the relationship between total factor productivity and real GDP of countries like Japan, Spain, United States, Germany, and France. It includes graphs depicting the trend of total factor productivity and real GDP for these countries. Additionally, a table of real GDP at constant national price for Australia, France, Japan, and Germany from 2000-2015 is also provided.

Running head: ECONOMICS
Economics
Name of the student
Name of university
Author note

1
ECONOMICS
Table of Contents
Part A.........................................................................................................................................2
Part B........................................................................................................................................18
Part C........................................................................................................................................19
Reference list............................................................................................................................20

2
ECONOMICS
Part A
Answer 1
1952-01-01
1955-01-01
1958-01-01
1961-01-01
1964-01-01
1967-01-01
1970-01-01
1973-01-01
1976-01-01
1979-01-01
1982-01-01
1985-01-01
1988-01-01
1991-01-01
1994-01-01
1997-01-01
2000-01-01
2003-01-01
2006-01-01
2009-01-01
2012-01-01
0.0000
0.2000
0.4000
0.6000
0.8000
1.0000
1.2000
0
2000000
4000000
6000000
8000000
10000000
12000000
14000000
16000000
18000000
20000000
China
DATE
TFP
REAL GDP
Figure 1Total factor productivity and GDP of China
1950-01-01
1953-01-01
1956-01-01
1959-01-01
1962-01-01
1965-01-01
1968-01-01
1971-01-01
1974-01-01
1977-01-01
1980-01-01
1983-01-01
1986-01-01
1989-01-01
1992-01-01
1995-01-01
1998-01-01
2001-01-01
2004-01-01
2007-01-01
2010-01-01
2013-01-01
0.00000
200000.00000
400000.00000
600000.00000
800000.00000
1000000.00000
1200000.00000
0.00000
0.20000
0.40000
0.60000
0.80000
1.00000
1.20000
AUSTRALIA
DATE
GDP
TFP
Figure 2 Total factor productivity and GDP of Australia

3
ECONOMICS
1950-01-01
1954-01-01
1958-01-01
1962-01-01
1966-01-01
1970-01-01
1974-01-01
1978-01-01
1982-01-01
1986-01-01
1990-01-01
1994-01-01
1998-01-01
2002-01-01
2006-01-01
2010-01-01
2014-01-01
-4.00
-3.00
-2.00
-1.00
0.00
1.00
2.00
3.00
4.00
5.00
6.00
0
200000
400000
600000
800000
1000000
1200000
1400000
1600000
1800000
2000000
UNITED KINGDOM
DATE
TFP
GDP
Figure 3Total factor productivity and GDP in UK
1950-01-01
1955-01-01
1960-01-01
1965-01-01
1970-01-01
1975-01-01
1980-01-01
1985-01-01
1990-01-01
1995-01-01
2000-01-01
2005-01-01
2010-01-01
0.00000000000
0.20000000000
0.40000000000
0.60000000000
0.80000000000
1.00000000000
1.20000000000
0.00000
500000.00000
1000000.00000
1500000.00000
2000000.00000
2500000.00000
3000000.00000
FRANCE
DATE
TFP
GDP
Figure 4Total factor productivity and GDP in France

4
ECONOMICS
1950-01-01
1955-01-01
1960-01-01
1965-01-01
1970-01-01
1975-01-01
1980-01-01
1985-01-01
1990-01-01
1995-01-01
2000-01-01
2005-01-01
2010-01-01
0.00000000000
0.20000000000
0.40000000000
0.60000000000
0.80000000000
1.00000000000
1.20000000000
0.00000
500000.00000
1000000.00000
1500000.00000
2000000.00000
2500000.00000
3000000.00000
3500000.00000
4000000.00000
Germany
DATE
TFP
GDP
Figure 5 Total factor productivity and GDP in Germany
1950-01-01
1955-01-01
1960-01-01
1965-01-01
1970-01-01
1975-01-01
1980-01-01
1985-01-01
1990-01-01
1995-01-01
2000-01-01
2005-01-01
2010-01-01
0.00000000000
0.20000000000
0.40000000000
0.60000000000
0.80000000000
1.00000000000
1.20000000000
0.00
2000000.00
4000000.00
6000000.00
8000000.00
10000000.00
12000000.00
14000000.00
16000000.00
18000000.00
UNITED STATES
DATE
TFP
GDP
Figure 6 Total factor productivity and GDP in USA

5
ECONOMICS
0.00000000000
0.20000000000
0.40000000000
0.60000000000
0.80000000000
1.00000000000
1.20000000000
0.00000
200000.00000
400000.00000
600000.00000
800000.00000
1000000.00000
1200000.00000
1400000.00000
1600000.00000
1800000.00000
SPAIN
DATE
TFP
REAL GDP
Figure 7Total factor productivity and GDP in Spain
1950-01-01
1954-01-01
1958-01-01
1962-01-01
1966-01-01
1970-01-01
1974-01-01
1978-01-01
1982-01-01
1986-01-01
1990-01-01
1994-01-01
1998-01-01
2002-01-01
2006-01-01
2010-01-01
2014-01-01
0.00000000000
0.20000000000
0.40000000000
0.60000000000
0.80000000000
1.00000000000
1.20000000000
1.40000000000
0.00000
500000.00000
1000000.00000
1500000.00000
2000000.00000
2500000.00000
3000000.00000
3500000.00000
4000000.00000
4500000.00000
5000000.00000
JAPAN
DATE
TFP
REAL GDP
Figure 8Total factor productivity and GDP in Japan
(Source: Fred.stlouisfed.org. 2019).
From the above graphs it can be said that when the GDP is increasing, it can be said that
when the total factor productivity will be increasing the real GDP will also increase. The
above graph shows the total factor productivity and the real GDP at constant prices for
countries Japan, Spain, United States, Germany and France.

6
ECONOMICS
Table 1: Real GDP at constant national price for Australia, France, japan and Germany from
2000-2015
Observation_date Australia Japan France Germany
2000-01-01 44313.318227417
4
42169.7332837728
0
2077595.7500
0
37998.425311999
1
2001-01-01 44564.976559313
2
42239.1849263722
0
2118201.2500
0
38577.725629329
7
2002-01-01 45786.642810471
1
42190.8048728002
0
2141892.5000
0
38512.920041102
4
2003-01-01 46575.415332045
4
42744.0112849900
0
2159446.0000
0
38218.349645593
4
2004-01-01 47880.611657661
9
43671.6799739019
0
2219617.2500
0
38673.888113205
2
2005-01-01 48760.355169253
1
44393.6263842136
0
2255302.2500
0
38969.321698063
2
2006-01-01 49408.052740688
3
44995.4944919199
0
2308864.5000
0
40456.857380276
9
2007-01-01 50955.055948240
0
45687.2738147656
0
2363388.5000
0
41831.867088309
8
2008-01-01 51770.90715302 45165.7879187658
0
2368004.0000
0
42365.097495581
2
2009-01-01 51689.913555850
2
42724.7603699506
0
2298353.0000
0
40086.104759441
7
2010-01-01 51936.888711646
1
44507.6763859172
0
2343530.7500
0
41785.556912554
0
2011-01-01 52475.663245521
5
44538.7261906961
0
2392258.0000
0
44125.331411650
3
2012-01-01 53553.233942969
9
45276.8743354208
0
2396628.5000
0
44259.259905398
3
2013-01-01 54008.708193868
5
46249.2095886497
0
2412362.0000
0
44354.736886526
7
2014-01-01 54546.203062121
9
46484.1552668943
0
2416693.7500
0
45022.565348642
3
2015-01-01 55017.248023993
1
47163.4942109343
0
45412.556808231
3

7
ECONOMICS

8
ECONOMICS
Table 2: total central government debt from 2000-2015 for Australia, Japan and France
Observation_dat
e
Australia Japan France Germany
2000-01-01 29.603894325415
9
100.460883301121
0
58.035565807111
4
not available
2001-01-01 27.824838315128
7
104.441334212866
0
57.578227522596
0
2002-01-01 25.996660224977
2
113.602204865169
0
60.929811279095
8
2003-01-01 25.192723711886
2
124.032485792123
0
63.410217669310
2
2004-01-01 22.994251437140
7
129.874172065938
0
64.387699034347
3
2005-01-01 22.532104993531
2
130.462680450451
0
65.386308407892
2
2006-01-01 21.662738182157
8
130.828972913551
0
60.805917334091
6
2007-01-01 20.347511162102
8
134.218175238796
0
59.355646127041
1
2008-01-01 18.422487341982
1
140.413434816734
0
64.901270135531
2
2009-01-01 24.095964243877
9
158.874629469603
0
73.842828608516
6
2010-01-01 29.305377117173
0
162.296406603406
0
76.484640084143
9
2011-01-01 30.638819023079
2
177.960942881533
0
79.706198853582
1
2012-01-01 39.978621058257
6
186.025417955330
0
88.999961186988
2
2013-01-01 38.099410515280
8
188.881475969820
0
89.792299371801
8
2014-01-01 42.280370177268
0
194.428052681970
0
97.665636528809
5
2015-01-01 47.040589513779
4
197.037439721135
0
98.042422831017
3

9
ECONOMICS
Table 3 Imports from 2000-2015 for Australia, japan, France and Germany
observation_d
ate
Australia Japan France Germany
2000-01-01 17.04432319579
420
7.776410995320
78
24.8455589290
337
25.3416399497
201
2001-01-01 16.16315970309
720
8.093572612801
29
23.8625046564
551
24.8653265198
345
2002-01-01 16.34789345251
090
8.178448873298
60
21.9987337719
605
23.4207321085
529
2003-01-01 15.74023989136
330
8.602818909562
34
21.6337008235
588
24.0230830997
535
2004-01-01 15.74100612675
910
9.412671458581
46
22.0589723644
342
25.2213386666
421
2005-01-01 16.23378300093
760
10.90712068451
720
22.9072841155
534
26.9846727347
832
2006-01-01 17.05684137817
620
12.78460412444
710
23.3962278307
537
30.0778502485
452
2007-01-01 16.62701113498
880
13.80012911615
270
23.7156943563
207
30.6093069147
290
2008-01-01 18.20554210988
490
15.17768473048
310
24.3876547339
654
31.4101732993
947
2009-01-01 15.92359760722
300
10.50661588486
180
20.8748239031
358
26.9244714286
378
2010-01-01 15.46428916332
470
12.14418256492
980
22.9748682422
071
30.6746510777
566
2011-01-01 15.49200228751
610
13.89046367475
410
25.0915551315
336
33.1773931675
684
2012-01-01 15.99483081587
740
14.23535962727
260
25.1076675032
124
32.5643076177
782
2013-01-01 15.36249562842
400
16.12461888379
650
24.3396386704
944
31.4182617638
523
2014-01-01 15.67671674058
050
16.69067422662
480
23.8224553390
997
30.8567350338
028

10
ECONOMICS
2015-01-01 16.27506416821
910
14.73761942622
400
23.5611964739
198
30.9665376742
817
Table 4Total government final consumption expenditure from 2000-2015
observation_dat
e
Australia Japan France Germany
2000-01-01 200580000000 88760.6 330.108 404.64900000000
00
2001-01-01 204860000000 91707.3 340.587 416.00600000000
00
2002-01-01 208934000000 93533.4 360.774 420.79200000000
00
2003-01-01 219511000000 93768.7 377.392 418.95300000000
00
2004-01-01 227255000000 94310.0 392.686 422.99600000000
00
2005-01-01 234178000000 94958.4 407.342 430.39800000000
00
2006-01-01 242452000000 94590.1 420.624 439.74000000000
00
2007-01-01 248355000000 95414.7 435.508 457.56600000000
00
2008-01-01 258692000000 95600.5 449.532 481.20700000000
00
2009-01-01 264920000000 96111.9 466.306 493.33600000000
00
2010-01-01 271855000000 97527.0 478.654 505.69100000000
00
2011-01-01 283507000000 99204.5 488.749 519.71300000000
00
2012-01-01 287703000000 100240.9 500.279 542.85300000000
00
2013-01-01 291900000000 101469.2 510.491 563.96200000000

11
ECONOMICS
00
2014-01-01 293823000000 103561.6 518.651 587.39700000000
00
2015-01-01 305274000000 105297.0 523.400
Answer 3
Table of job vacancy and unemployment rate.
Date LMJVTTUVAUQ647N LRUNTTTTAUQ156N
1980-01-01 43200 6.5621
1980-04-01 34800 6.1688
1980-07-01 35200 5.9054
1980-10-01 40600 5.7887
1981-01-01 39900 6.2779
1981-04-01 42200 5.4622
1981-07-01 41000 5.6298
1981-10-01 43600 5.7644
1982-01-01 39900 6.7515
1982-04-01 29300 6.5209
1982-07-01 24800 6.8857
1982-10-01 31200 8.4664
1983-01-01 32000 10.4095
1983-04-01 31800 10.1496
1983-07-01 31100 9.9798
1983-10-01 36000 9.3076
1984-01-01 49100 10.1291
1984-04-01 40100 9.0780
1984-07-01 45300 8.5053

12
ECONOMICS
1984-10-01 47700 8.2464
1985-01-01 66700 9.2339
1985-04-01 69200 8.4279
1985-07-01 63400 7.8855
1985-10-01 62300 7.5046
1986-01-01 71900 8.5856
1986-04-01 65800 7.7660
1986-07-01 58600 8.0191
1986-10-01 62600 7.9535
1987-01-01 76500 8.9620
1987-04-01 65600 8.1362
1987-07-01 68800 7.7792
1987-10-01 63800 7.5548
1988-01-01 75900 8.1534
1988-04-01 71800 7.5509
1988-07-01 81500 6.7578
1988-10-01 81800 6.4497
1989-01-01 89500 7.1265
1989-04-01 89900 6.1262
1989-07-01 78600 5.8591
1989-10-01 76700 5.6074
1990-01-01 74700 6.7392
1990-04-01 61000 6.4040
1990-07-01 59100 6.9913
1990-10-01 40800 7.5575
1991-01-01 34600 9.3858
1991-04-01 30100 9.4544
1991-07-01 31200 9.6495
1991-10-01 30500 9.8164
1992-01-01 34100 11.1851

13
ECONOMICS
1992-04-01 29600 10.5104
1992-07-01 35000 10.5137
1992-10-01 36800 10.7033
1993-01-01 37600 11.7057
1993-04-01 38300 10.7457
1993-07-01 49600 10.5891
1993-10-01 48600 10.4582
1994-01-01 58500 11.2223
1994-04-01 62500 9.7632
1994-07-01 89300 9.2145
1994-10-01 85700 8.6888
1995-01-01 73600 9.4484
1995-04-01 69600 8.2672
1995-07-01 81100 8.1258
1995-10-01 72100 8.0477
1996-01-01 82500 9.0484
1996-04-01 69500 8.3480
1996-07-01 83700 8.3536
1996-10-01 82100 8.2744
1997-01-01 82200 9.2771
1997-04-01 76400 8.4028
1997-07-01 91100 8.1253
1997-10-01 89300 7.6447
1998-01-01 99200 8.4368
1998-04-01 96800 7.6654
1998-07-01 96500 7.5437
1998-10-01 100800 7.0638
1999-01-01 87500 7.6397
1999-04-01 93500 6.8397

14
ECONOMICS
1999-07-01 115300 6.6664
1999-10-01 108100 6.3494
2000-01-01 118500 7.1778
2000-04-01 107600 6.2693
2000-07-01 123700 5.7924
2000-10-01 113500 5.9027
2001-01-01 100000 6.8873
2001-04-01 87400 6.8185
2001-07-01 96900 6.6131
2001-10-01 87400 6.6498
2002-01-01 91300 7.2109
2002-04-01 90300 6.3670
2002-07-01 109600 6.0453
2002-10-01 96100 5.8525
2003-01-01 111300 6.5981
2003-04-01 99500 6.0240
2003-07-01 108800 5.6698
2003-10-01 105700 5.4218
2004-01-01 105700 6.0430
2004-04-01 122700 5.4166
2004-07-01 127600 5.2606
2004-10-01 137100 4.8668
2005-01-01 149500 5.5808
2005-04-01 137800 5.0446
2005-07-01 140300 4.7560
2005-10-01 132600 4.7540
2006-01-01 147300 5.5116
2006-04-01 152000 4.8487
2006-07-01 155000 4.4864

15
ECONOMICS
2006-10-01 161100 4.2942
2007-01-01 163700 4.9814
2007-04-01 166500 4.3156
2007-07-01 173100 4.0811
2007-10-01 182800 4.1385
2008-01-01 178000 4.4539
2008-04-01 184400 4.2456
2008-07-01 0 4.0189
2008-10-01 0 4.2189
2009-01-01 0 5.7763
2009-04-01 0 5.7105
2009-07-01 0 5.4632
2009-10-01 150800 5.2915
2010-01-01 169000 5.8058
2010-04-01 164700 5.2619
2010-07-01 181400 4.9393
2010-10-01 193700 4.8464
2011-01-01 189900 5.4132
2011-04-01 181000 4.9291
2011-07-01 186700 5.0193
2011-10-01 181600 4.9638
2012-01-01 182200 5.6022
2012-04-01 172100 5.0690
2012-07-01 178700 5.1076
2012-10-01 167100 5.1187
2013-01-01 149800 5.9561
2013-04-01 138900 5.5719
2013-07-01 142900 5.5545
2013-10-01 140900 5.5698

16
ECONOMICS
2014-01-01 143600 6.4755
2014-04-01 142600 5.8521
2014-07-01 148400 6.0281
2014-10-01 152400 5.9597
2015-01-01 152600 6.6487
2015-04-01 152000 5.9389
2015-07-01 163500 6.0914
2015-10-01 170400 5.5528
2016-01-01 173800 6.2206
2016-04-01 164100 5.6129
2016-07-01 179700 5.5669
2016-10-01 185800 5.4441
2017-01-01 186900 6.2367
2017-04-01 182500 5.5160
2017-07-01 208400 5.4430
2017-10-01 216000 5.1901
2018-01-01 223700 5.9606
(Source: Fred.stlouisfed.org. 2019).

17
ECONOMICS
1980-01-01
1981-10-01
1983-07-01
1985-04-01
1987-01-01
1988-10-01
1990-07-01
1992-04-01
1994-01-01
1995-10-01
1997-07-01
1999-04-01
2001-01-01
2002-10-01
2004-07-01
2006-04-01
2008-01-01
2009-10-01
2011-07-01
2013-04-01
2015-01-01
2016-10-01
0.0000
2.0000
4.0000
6.0000
8.0000
10.0000
12.0000
14.0000
0
50000
100000
150000
200000
250000
AUSTRALIA
unemployment rate job vacancy
Figure 9 Graph of job vacancy and unemployment
(Source: Fred.stlouisfed.org. 2019).
There is an inverse relationship between the job vacancy and unemployment rate. With the
decrease in the job vacancy there will be rise in the rate of unemployment. In the year 2008,
there had been a huge decrease in the job vacancy in Australia and the rate of unemployment
also went down. However, the rate of job vacancy increased after 2008 till 2016 and
therefore, the rate of unemployment also decreased. In the year 1980, the rate of job vacancy
decreased along with unemployment rate. In the year 1991, the job vacancy decreased and the
rate of unemployment also increased. This proved when the rate of job vacancy is decreasing
the rate of unemployment in increasing. Thus, will take place as when the job will not be
available, there will be rise in unemployment.

18
ECONOMICS
Part B
Answer 4
Figure 10 Increase in govt expenditure
When the government increases its expenditure, it will be raising the aggregate demand. The
rise in government spending will lead to rise in aggregate demand which can lead to higher
growth in the short run. Therefore, it can be said when the government expenditure will be
rising the aggregate demand will be increasing. In the long run, the workers will be adjusting
the price level and therefore the supply curve will also be shifting.

19
ECONOMICS
Part C
1.The International Monetary Fund is the organization which works for fostering the global
monetary cooperation and secure financial stability for facilitating the international trade,
promote high employment and sustainable economic growth and also reduction of poverty
around the world. The primary purpose of the international monetary fund is ensuring the
stability of the IMF. Its international organization is headquarterd in Washington D.C. it
came into existence in 1945 with 29 member countries and the goal is to reconstruct the
international payment system.
2.As the main job of the economist is to research and analyse any economic issues, I am quite
comfortable able in conducting any kind of surveys and collect data efficiently along with
interpreting and forecasting the market trends. I have also completed my higher studies in
economic for which I am eligible for the post of microeconomist. I also have a good
academic record, fluency in English, strong analytical and computer skills along with strong
understanding of microeconomics. I also few years of professional experience with economic
policy issues at the national level. Along with this I also have a well developed knowledge in
econometrics which will help me to work better.
3. I was drawn to this position since it will be overlapping with the interest of
microeconomics. As I have a lot of interest in microeconomics I would like to work for the
position of economist in IMF. This role would also allow me to utilize my skills in
communication. My career personality test also shows I a suited for the role as it will also
help me widen my knowledge. This particular role will also allow me to utilize my skills in
communication and my skills in microeconomics.

20
ECONOMICS
4. In the Economist informational interview, it states studying economics have assisted him
in understanding how the world usually works. It also states how to use the knowledge for
improving the world. One of the important tips is that economics can be easily learned in
internship which will be helping them to get the real world experience. I have also seen that I
need to improve my area on data analytics and my research skills where I can use my
knowledge in the economic theory. In order to widen my knowledge of the understanding in
economics I can attend several conferences and increase my fields of studying.

21
ECONOMICS
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