ps3_114 - Econ 114 Javier Birchenall Due date: Tuesday,...

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Econ 114 Javier Birchenall Due date: Tuesday, October 19, 2010 Problem set 3: Population growth and the Solow Model The following problem set includes time derivatives and calculus using concepts brie f y developed in class and in depth considered in the book. An empirical part is also included. The data is available in an Excel spreadsheet on the class web page, econ.ucsb.edu/ ~ jabirche/teaching.htm Plan to spend 8 hours on these questions. Please return the problem set on time (next Tuesday during class), remember you have the chance to miss one and only one, use it wisely. If you have any problems regarding the questions please contact me by e-mail: jabirche@econ.ucsb.edu .Goodlu ck ! I. Fertility and poverty traps in the Solow model (theory) Consider once again the Solow model of economic growth. Assume that the production function is Y = AK α L 1 α , with A as productivity, K as physical capital and with L
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ps3_114 - Econ 114 Javier Birchenall Due date: Tuesday,...

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