Exercise 9.25. Generalize the analysis of the continuous time perpetual youth model of Section 9.8 to an
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Exercise 9.25. Generalize the analysis of the continuous time perpetual youth model of Section 9.8 to an economy with labor-augmenting technological progress at the rate g. Prove that the steady-state equilibrium is unique and globally (saddle-path) stable. What is the impact of a higher rate of technological progress?
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