Table 2: Average annual changes in selected exogenous and endogenous variables in the baseline, China and selected countries.

China Japan US EU27 Real GDP 11.05 1.97 2.91 2.44 Technological change 5.38 2.00 1.32 1.67 Population 0.25 2.42 4.63 1.83 Real investment 16.25 0.45 4.43 1.55 Errors in expectations/risk premia 16.26 17.12 20.33 18.35 Real supply of unskilled labour 1.23 -0.16 1.21 0.17 Real supply of skilled labour 3.69 -0.66 1.22 0.31