Lecture 4 21

Lecture 4 21 - Capital-Augmenting: Y = F(AK, N) The Solow...

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Types of Technological Progress Given our model, there are three types of technological progress: 1. Hicks Neutral: Y = AF(K, N) 2. Labor-Augmenting: Y = F(K, AN) 3.
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Unformatted text preview: Capital-Augmenting: Y = F(AK, N) The Solow model considers “Labor-Augmenting” Technological Progress. Y = F(K, AN) Let output per person be: y=f(k,A)...
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This note was uploaded on 04/03/2011 for the course ECON 2021 taught by Professor Mok during the Spring '11 term at HKU.

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