2 Solving for a Steady-state Equilibrium in the Malt husian model Suppose output is given by Y = 2LN1-a. Let population growth be equal to N' = Ng (). Suppose g = log (). Find N*,Y*,C* in steady state in terms of z, L, a and e - Euler's number, log e = 1. Productivity Increases in the Malt hus Model (short-term dynamics) Suppose output is given by Y = z1 LN!-a where z1 = 1, L = 1 and a = 0.5. Let population growth be equal to N' = Ng (). Suppose g = ()". Find Nf, Y, Ci and ci = ,li = in steady state. Suppose there is a productivity shock so that z2 = 2. Under this new technology level, find a new steady state of N;,Y;, C; and c = N = 0.5 %3D %3D 1. Calculate the initial and new steady states. You need to find N*, Y,C",c and I* before and after the productivity changes. 2. What changes did you find by comparing the aggregate and per-capita level variables? 3. Draw a diagram showing the transition dynamics of c and l from the initial steady state to the new steady state.