1 Consider the Romer model and note the equilibrium output (per capita) growth is x BL (1 0)P,0 max (a) Why, in economic terms, would the output growth rate increase in (1 6), B, and L (b) The Romer model is a microfounded model of endogenous growth Explain why endo genizing growth in the Romer mo...

a Increase in 1 phiB and I In the given equation an increase in 1 phiB and I contributes to higher equilibrium output growth This can be explained as ...

1. Consider the Romer model and note the equilibrium output (per capita) growth is x{- BL-(1-0)P,0}....

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1. Consider the Romer model and note the equilibrium output (per capita) growth is x{- BL-(1-0)P,0}. max (a)

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1. Consider the Romer model and note the equilibrium output (per capita) growth is x{- BL-(1-0)P,0}....

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