Unformatted text preview: discussed in chapter 2, but now speciFed in discrete form. Between time t and t + 1 the change in the population is proportional to the population size. If p t denotes the population size in period t , then ± p t + 1 = p t + 1 − p t is proportional to p t . If k denotes the proportionality factor, then ± p t + 1 = kp t Or p t + 1 = (1 + k ) p t which has the analytical solution p t = (1 + k ) t p...
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This note was uploaded on 12/14/2011 for the course ECO 3023 taught by Professor Dr.gwartney during the Fall '11 term at FSU.
- Fall '11