In the Malthus population model, if the world population at yea... | Filo
In the Malthus population model, if the world population at yea... | Filo
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A Malthusian Model Look up Thomas Malthus and read a little about his work. We are going to formalize a simple version of his ideas in a little model. The production function is: Yt=At Lt^αwhere At is technology, L is labor supply and αA. What will happen to GDP per capita and the size of the population in the short run and in the long run? Show your reasoning graphically and /or algebraically. (f) Suppose now that instead of being constant, technology improves at a constant rate, so that At 1=A
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