题目内容
If we have an aggregate production function of the form Y = aK, at what capital-labor ratio can a steady-state equilibrium be reached?
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Assume we have a simple endogenous growth model where technology is labor augmenting, that is, Y = F(K,AN), and also proportional to the capital-labor ratio, such that y = ak. In this case, the growth rate of GDP per capita can be expressed by
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