Quality-amount of education typical person receives caries

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The quality and amount of education the typical person receives caries substantially across countries. Assume that education (E) affects only the level of the efficiency of labour, and that countries are otherwise identical (in terms of saving rate, depreciation rate, rate of population growth and rate of technological progress). Set out the steady-state of the model being clear to note how education differences enter.

Reference no: EM13834828

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