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Assuming a slowdown in TFP growth resulted from a lower level of z in the Solow Growth Model. What is the effect of lower productivity
Assuming a slowdown in TFP growth resulted from a lower level of z in the Solow Growth Model.
What is the effect of lower productivity growth on the marginal product of capital? Is this result consistent with the stylized fact described by secular stagnationists about real interest rates?
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