Explain in detail endogenous growth model

Reference no: EM131134321

a. Consider once more the neoclassical model with a steady-state level of per capita output. Suppose a society can choose its rate of population growth. How can this choice affect the steady-state per capita output? Could such a policy help the country avoid falling into a poverty trap?

b. Now suppose we have an endogenous growth model. How will a lower population growth rate affect the society's long-term growth potential?

Reference no: EM131134321

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