Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi, here is the question, thank you! The Romer model can be described by 4 equations: Yt = AtLy,t AAtti = ZAtLa,t GONE Ly,t +

Hi, here is the question, thank you!

image text in transcribed
The Romer model can be described by 4 equations: Yt = AtLy,t AAtti = ZAtLa,t GONE Ly,t + Lat = L La,t = IL where Y is final output, A is ideas/knowledge, Ly is employment in production of final out- put, La is the number of researchers, and L is the population. i What are the endogenous variables? What are the exogenous variables and the pa- rameters? ( 5 points)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Economic Consequences Of The Peace

Authors: John Maynard Keynes

1st Edition

1420905856, 9781420905854

More Books

Students also viewed these Economics questions

Question

Context, i.e. the context of the information presented and received

Answered: 1 week ago