Lecture 6 2

Lecture 6 2 - Lucas (Two Sectors): Steady state growth rate...

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Review Solow growth Model: Steady state growth rate depends on rate of technology growth, growth exogenous. Romer (One Sector): No Steady state, economy grows indefinitely, as long as investment>depreciation.
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Unformatted text preview: Lucas (Two Sectors): Steady state growth rate depends on the fraction of workers in the “knowledge reproduction” sector....
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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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