Question
1. Consider the simple endogenous growth model where the only inputs into production are labour and knowledge. Now assume that there are constant returns to
1. Consider the simple endogenous growth model where the only inputs into production are labour and knowledge.
Now assume that there are constant returns to knowledge in the R and D sector. Derive the equilibrium growth rate of knowledge in this case. [15
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Economics
Authors: Gregory Mankiw, Mark P. Taylor
5th Edition
1473768543, 978-1473768543
