Solow & AK Models

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4. Consider a Solow model where the production function is given by Y=(AL)1K+ K. There is no technological change. Depreciation rate of capital is . Population growth r ate is n. Suppose that all countries in the world have have the same values for . Assume that their savings rates are also identical. However, countries differ in their initial level of capital per person. Discuss under what conditions these countries will or will not converge over time. When appropriate, distinguish between different special cases based on the values of the parameters