Steady state growth rate of output per worker

Assignment Help Business Economics

Reference no: EM131104840

Assume production is described by Y = BK^alpha X^beta E^gamma L^1-alpha - beta - gamma, where K is capital, X is land, and E is energy. Capital evolves according to a typical Solow model, K^dot = sY - delta K. Land does not grow, X^dot = 0. Energy evolves according to E = s_ER_0e^-sE^t, meaning that energy use is steadily declining over time. Population evolves according to L^dot/L = n. Solve for the steady state growth rate of output per worker.

Reference no: EM131104840

Questions Cloud

A company uses exponential smoothing : A company uses exponential smoothing with α = to forecast demand for a product. For each month, the company keeps a record of the forecast demand (made at the end of the preceding month) and the actual demand. Some of the records have been lost; ..

Unbalanced mix of employees : A company's specific mix of individual employees combines to help produce an organization's culture and feel. In this assignment, you will evaluate how an unbalanced mix of employees can affect a company.

Compute the net income for the current year : Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of $19,000 which was paid in the current year.

Dave is being prosecuted for child abuse : It was discovered the next day that the driver had lockedhis son, a 4th-grader, in the car trunk as punishment for getting in a fight at school. Dave is being prosecuted for child abuse

Steady state growth rate of output per worker : Assume production is described by Y = BK^alpha X^beta E^gamma L^1-alpha - beta - gamma, where K is capital, X is land, and E is energy. Capital evolves according to a typical Solow model, K^dot = sY - delta K. Land does not grow, X^dot = 0. Energy ev..

Provide platform portability for developing applications : How does Java provide platform portability for developing applications? Describe the process of creating Java applications using Java SE and an IDE

What are the different methods use to calculate depreciation : What are the different methods used to calculate depreciation? How does a company decide which method to use? How does its choice affect the financial statements? Should companies standardize the method of depreciation to enhance comparability?

What impact does the privatization of prisons have : What impact does the privatization of prisons have on providing rehabilitative services that would help prisoners rejoin society productively and curb recidivism? Explain.

Accumulated other comprehensive income : On January 1, 2004, Creative Works Inc. had cash and common stock of $60,000. At that date the company had no other asset, liability or equity balances.

User Account

All Pages