Exercise 20.6. In the model of Section 20.1, show that as long as condition (20.21) is satisfied

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Exercise 20.6. In the model of Section 20.1, show that as long as condition (20.21) is satisfied when the economy starts with an effective capital-labor ratio K (0) / (X (0)L(0)) different from k∗, the CGP is globally stable and the effective capital-labor ratio will monotonically converge to k∗ as t → ∞.

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