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Unformatted text preview: - % pi (us) | Sf(k) = dk | sy=dk for steady state | golden rule f(k)-d=0 or fk= d | Steady state= sf(k) = (d+n+g)k | Golden rule= f(k)= d+n+g | MV = PY | agg output = natural rate of output+ a positive parameter(thea ctual price leve- the expected price level) | Y/G= 1/(1-MPC) government purchases multiplier | Y/T= -MPC/(1-MPC) tax multiplier T X MPC/(1-MPC) | E=C(Y-T)+I+G...
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This note was uploaded on 04/11/2009 for the course ECON 101 taught by Professor Miyanishi during the Spring '08 term at UC Davis.
- Spring '08