Suppose a war destroys part of a nations population but not its capital stock, (say on account
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Suppose a war destroys part of a nation’s population but not its capital stock, (say on account of a neutron bomb being deployed). Use the Solow model without technological change to show the effect of this event on the country’s total output and per capita output over time. Assume prior to this event the economy was on its steady state path.
Related Book For
Macroeconomics Principles Applications And Tools
ISBN: 9780134089034
7th Edition
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
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