MGEB06H3 Lecture 4: Week 4 chapter notes
6 Dec 2010
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Chapter 8 economic growth ii: technology, empirics, and policy notes. N with these definitions, the equation showing the evolution of k over time becomes k = sf(k) ( + n + g)k. Steady-state growth rates in the solow model with technological progress. Symbol k = k / (e l) y = y / (e l) = f(k) N workers in poor country may be poor because they lack tools and skills (tas) or because tas they have are not put to best use. N the most direct way in which the government affects national saving is through public saving the difference between what the government receives in tax revenue and what it spends. 8. 4 beyond the solow model: endogenous growth theory. The model can explain much of what we see in the data, such as balanced growth and conditional convergence.
