Lecture 6 19

Lecture 6 19 - person (y) and capital per person (k) grow...

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Setup Recall this production function? It looks very similar to the Solow Growth Model with technology. Hence we know that at the steady state both output per
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Unformatted text preview: person (y) and capital per person (k) grow at the rate of technological growth. αα K AL Y Y − = 1 ) (...
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