The Solow model assumes that technology changes are exogenous. What does this mean? Why does this matter

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The Solow model assumes that technology changes are exogenous. What does this mean?

Why does this matter for growth policy? What does this assumption imply about growth rates across nations over time?

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Principles Of Economics

ISBN: 978-0393283365

1st Edition

Authors: Dirk Mateer ,Lee Coppock

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Question Posted: Nov 11, 2024 07:07 AM

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The Solow model assumes that technology changes are exogenous. What does this mean? Why does this matter for growth policy? What does this assumption imply about growth rates across nations over time?
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The Solow model assumes that technology changes are exogenous. What does this mean? Why does this matter

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Principles Of Economics

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