100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Solow-Swan model without technology £7.16   Add to cart
Quickly navigate to
Preview
  2.  
  3. University Of Glasgow
  4.  
  5. Marcroeconomic Analysis:Solow Swan model 1 (ECON4019)

Lecture notes

Solow-Swan model without technology
 11 views  0 purchase

The first part of lecture notes cover the role of endogenous growth models in understanding the development of various countries. The notes then go on to cover basic notation required to understand endogenous growth models. The final part of the lecture notes goes on describe the basic structure of...

[Show more]

Preview 2 out of 10  pages

Document information

  • August 13, 2024
  • 10
  • 2023/2024
  • Lecture notes
  • Professor richard dennis
  • All classes

Subjects

  • solow swanmodel without technology

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

More summaries for

All for this textbook (3)

Written for

All documents for this subject (1)

Seller

avatar-seller
kavyasarangmath

Content preview

Macroeconomic Analysis Revision Q

Continous KCt)

Discrete Kt

As Kapital is a stockrather than a How KC) refers to the amount


of Kapital available at point in timet


KE -refers to the amount of kapital at the & period
beginning -


For Flow variables like output , UC) refers to the quantity of goods produced
-
time E , While It

refers to the quantity of goods produced doing period
t
-




Measuring the change in output over time -
:




Aut =
Ut-UE-1 discrete


output is rising N r E. .


time - When EO
dt -



and falling when (H) O

de


#
=
AD-U(t-AE) continous time
At
At A
as
gets l the less time
closer to zero we have




Basic maths

14 Xz-* log(n)
= =

log(X) + log(z)
2U =
*
-

log(u) log(X) log(z)
= -




Z


*
3u =
y -
log(u)
=

xlogX
4 exp(aX)-log(4) =
xX



For derivatives we have the following -




U =
log(x)- discrete
aXX


n(t) log(x( -) - (+ ) max(t)
=
=
=




dt d(t)

, How calculate the growth rate of an economic variable : -




e.g output (4)

Take the derivative wrt time of the natural log of output


g(u(t)
at
=

=
Egy

>
-

Example :
-

Capital (K)
Find the growth rate of (


k(+) =
) capital labor ratio

Lt)


① Find natural logs
..



.( (t)) log(k(t))
log log(((t))
= -




② Take derivatives of each log variable Nr
.
.
time


g(k(t))
g(kH-GL
=




It at


This is equal to. .
I




-interpretation the
:- the growth rate of capital-per-worker

labor.
the growth rate of capitan


minus growth rate of


If the Capital-labor ratio is not changing overtime , then capital and


labor must be
graving at the same rate




Example 2 : -

Calculate the growth rate of output from the Cobb Douglas production In

x
*
!
-




4 = k


log(4(+)) xlog(((+)) + (1 x) log(L(t))
= - -




then
-
we take derivatives NrE time


log(u(t))
DEA
=

Og(k(t))
x
de
+ (1 x)
-




g(L(t))
It ]

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller kavyasarangmath. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £7.16. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

66579 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now

Start selling
£7.16
  • (0)
  Add to cart