Solow Growth Model

Lecture notes for Macroeconomics I, 2004 - Yale University

Motivation: Solow’s growth model Most modern dynamic models of macroeconomics build on the framework described in Solow’s (1956) paper.1 To motivate what is to follow, we start with a brief description of the Solow model. This model was set up to study a closed economy, and we will assume that there is a constant population. 2.1 The model

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