Use the Solow-Swan growth model to explain how an exogenous increase in the number of schools that increases human capit
Posted: Thu May 26, 2022 7:36 am
Use the Solow-Swan growth model to explain how an exogenous
increase in the number of schools that increases human capital per
capita can affect the steadystate GDP per capita. To do so, employ
the model we saw in class but assume that the production function
only requires labour and human capital, i.e. Y = f(L,H). Criticise
the result you obtain, on the basis of endogenous growth
theory.
increase in the number of schools that increases human capital per
capita can affect the steadystate GDP per capita. To do so, employ
the model we saw in class but assume that the production function
only requires labour and human capital, i.e. Y = f(L,H). Criticise
the result you obtain, on the basis of endogenous growth
theory.