Limitations of the theoretical framework

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Reference no: EM136529

Q1. Derive step by step the steady state level of capital and output per worker for each one of the models below: basic so low model, so low model with population growth, so low model with human capital. Use your results to get an expression for the ratio of income per worker between countries i and j for each one of these models.

Q2. Summarize in words the predictions and limitations of the theoretical framework developed for the first exam: that is the predictions for the effect of capital accumulation, population growth and human capital when explaining income difference across countries as well as differences in growth rates.

Reference no: EM136529

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