Question
Suppose that we have an overlapping generation model and the utility is U_t=lnC_1t+BlnC_(2t+1), and the production function is F(K_t, L_t )=A K_t^ L_t^(1-). 1. Find
Suppose that we have an overlapping generation model and the utility is U_t=lnC_1t+BlnC_(2t+1), and the production function is F(K_t, L_t )=A K_t^ L_t^(1-).
1. Find the Golden rule level of capital stock?
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Managerial Economics A Problem Solving Approach
Authors: Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
4th edition
1305259335, 978-1305259331
