IMG_0973.jpg - 6 05 2019 Last class Ch 8 Ch 18 Fiscal Policy Debt Deficit"automatry 18.4 convergence P 349 353 concept of absolute Laffer curve gov't

IMG_0973.jpg - 6 05 2019 Last class Ch 8 Ch 18 Fiscal...

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Unformatted text preview: 6 - 05 - 2019 Last! class! Ch 8, Ch 18 , Fiscal Policy , Debt , Deficit . "automatry " ( 18.4 ) convergence P 349- 353 concept of " absolute . Laffer curve gov't Budget Constraint . economic growtsolow The hypothesis faster than rich ones that poor countries model " without conditioning on any grow large sample rejectsl characteristics of economies ) OFCD : (homogeneous group) 20 + + support hypothesis each state alt of the 30 in the U.S.A . conditional convergence : the hypothesis that the economy grows faster the further it is from its own steady J state value solow model predicts conditional convergence 4 model does not predict absolute convergence n+ 8 Rich 90 . Saving pate , < 8RR poor poor has lower steady state poor country not necessarily have higher growth rate OK = SR - ( n + f ) / 2 Risk - ( n + 8 +9)/ tech prog * ' (1 ) = 1 - x ( + ) : + + c * ' ( 4 ) = 2 x / 4 ) * (+ ) : CARt X Left = 3et . time path of at X...
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  • Spring '14
  • McGough,B.
  • Economics, Economy of the United States, Sovereign state

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