Intermediate Macroeconomics II
Growth in the Solow model The fundamental equation of the Solow model is given in steady state as Technology is of Cobb-Douglas form Omitting time indices, implies variables are stationary or exogenous. Now, the growth rat...
Solow growth model and the steady state What is a model? A mathematical description of the economy. Why do we need a model? The world is too complex to describe it in every detail. What makes a model successful? When it is...
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