Final Exam II (Solutions) ECON 4310, Fall 2014

Consider the capital accumulation equation of the Ramsey model with exogenous tech-nology growth (1 + g)k t+1 = ka ct +(1 d)kt, kt Kt/(AtL), ct Ct/(AtL), where Kt is the aggregate capital stock, At is the state of technology, Lthe size of the pop-ulation, Ct aggregate consumption, a 2(0,1) the capital income share in the economy,

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