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Lecture 6 21

Lecture 6 21 - A A y y Δ = Δ Recall φ γ A L A A = Δ 1...

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Steady State Growth Rate of Output The steady state growth rate of output is the same as rate of technology growth:
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Unformatted text preview: A A y y Δ = Δ Recall: φλ γ A L A A = Δ 1 ) ( − = Δ A L s A A A Thus:...
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