Question: A production function is given as below Y = K L 1 - a . Find steady state for capital per effective worker ( k
A production function is given as below
a Find steady state for capital per effective worker output per effective worker and consumption per effective worker in term of parameters used in the model namely saving ratepopulation growth ratedepreciation rate and growth rate of efficient worker
b Find the golden rule of
c Find the level of saving rate in order to obtain the golden rule capital stock?
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