WebMacroeconomics Golden Rule Equal Slopes Equivalently, the golden-rule of saving is to make the steady state where the capital-widening ray nk and the intensive production … In economics, the Golden Rule savings rate is the rate of savings which maximizes steady state level of the growth of consumption, as for example in the Solow–Swan model. Although the concept can be found earlier in the work of John von Neumann and Maurice Allais, the term is generally attributed to Edmund Phelps who wrote in 1961 that the golden rule "do unto others as you would have them do unto you" could be applied inter-generationally inside the model to arri…
宏观经济学Midterm题目 - 百度文库
WebThe Golden Rule level of capital represents the level that maximizes consumption in the steady state. Suppose, for example, that there is no population growth or technological change. ... The production function in the Solow growth model is Y = F(K, L), or expressed terms of output per worker, y = f(k). If a war reduces the labor force through ... WebOct 9, 2016 · Tour Start here for a quick overview of the site Help Center Detailed answers to any questions you might have Meta Discuss the workings and policies of … playhouse hosts erie land lighthouse tours
Chapter 2 The Solow Growth Model (and a look ahead)
WebAnswer the following question using the basic Solow growth model, with neither population growth nor technological progress. ... What can be said about the marginal product of … WebIn the Solow growth model, if the total factor productivity decreases, determine using diagrams how this affects the golden rule quantity of capital per worker and the golden rule savings rate. Explain your results. Only typing solution required and diagram also. WebQuestion: 1. Consider the Solow growth model from class. Assume the production function is Cobb Douglas, i.e. Y = zK^ (a)N^ (1−a) for a ∈ (0, 1). (a) Solve for the golden rule level of capital per worker, k∗gr. (b) Use your solution above to show how k∗gr changes with TFP. (c) Use a graph to illustrate how a decrease in TFP changes the ... prime clerk grand central station new york