This has been incredibly useful for my development economics class! Thank you for going so in-depth on the mathematical representation of these concepts
If two economies A and B are identical in every respect except that Sa>Sb and Na>Nb. What will happen to them in the long run?will A have higher steady state output per unit of effective labor than B?
Is there any rational for the productivity curve to be =sqrt(k) beyond the fact that the sqrt of K's 1st derivative is always positive and second derivative is always negative?
This has been incredibly useful for my development economics class! Thank you for going so in-depth on the mathematical representation of these concepts
If two economies A and B are identical in every respect except that Sa>Sb and Na>Nb. What will happen to them in the long run?will A have higher steady state output per unit of effective labor than B?
Is there any rational for the productivity curve to be =sqrt(k) beyond the fact that the sqrt of K's 1st derivative is always positive and second derivative is always negative?