Question
Compute the growth rate for per-capita GDP ( d(Y (t)/L(t) ) dt / (Y (t)/L(t)) in the long run for the Solow economy with exogenous
Compute the growth rate for per-capita GDP
( d(Y (t)/L(t) ) dt / (Y (t)/L(t)) in the long run for the "Solow economy with exogenous technology progress", where the production function is given as Y (t) = (A(t)L(t))^1K(t) and A'(t) /A(t) = g, L'(t)/ L(t) = n.
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Microeconomics
Authors: Paul Krugman, Robin Wells
3rd edition
978-1429283427, 1429283424, 978-1464104213, 1464104212, 978-1429283434
