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Here are the optimal conditions I found after solving the hamiltonian : lambda_1 dot/ lambda_1 = ho + delta - alpha z_1 k_1^{alpha - 1}
Here are the optimal conditions I found after solving the hamiltonian : lambda_1 dot/ lambda_1 = ho + \delta - alpha z_1 k_1^{alpha - 1} l_1^beta, lambda_2 dot/ lambda_2 = ho + \delta - alpha z_2 k_2^{alpha - 1} l_2^beta, z_1 k_1^alpha l_1^{beta - 1} = z_2 k_2^alpha l_2^{beta - 1}. Describe in words the resulting paths of investment and output
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Microeconomics A Contemporary Introduction
Authors: William A. McEachern
9th edition
978-0538453714, 538453710, 978-1111415921
