Question
Assumingno population growth or technological progress, giventhe Cobb-Douglas production function: Y=K L 1-a a. Characterize the steady-state capital per worker b. Characterize the steady-state output
Assumingno population growth or technological progress, giventhe Cobb-Douglas production function:
Y=KL1-a
a. Characterize the steady-state capital per worker
b. Characterize the steady-state output per worker
c. Determine a. and b. when =0.3and = 0.1
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Macroeconomics A European Perspective
Authors: Olivier Blanchard, Alessia Amighini, Francesco Giavazzi
4th Edition
1292360895, 9781292360898
