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Advanced Macroeconomics Problem set 2 1. A typical model of knowledge accumulation Conside the model of knowledge accumulation analysed in the lectures. Let the production

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Advanced Macroeconomics

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Problem set 2 1. A typical model of knowledge accumulation Conside the model of knowledge accumulation analysed in the lectures. Let the production for output and for new knowledge be given by Y (t) = A (t) (1 - aL) L(t) A (t ) = Bay L(t ) YA (t) with 0

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