cc15--索洛經(jīng)濟(jì)增長(zhǎng)模型(存儲(chǔ)版)
【正文】 “effectiveness of labor”(A). At any tome, the economy has some amounts of capital, labor, and knowledge, nad these are bined to produce output. The production function takes the form ? Y(t)=F(K(t),A(t)L(t)), ? Where t denotes time ? Two features of the production function should be noted. First, tme does not enter the production function directly, but only through K,L,and A. that is output changes over time only if the inputs to production change. In particular, the amount of output obtained from given quantities of capital and labor rises over time– there is technological progress—only if the amount of knowledge increases. ? Second, A and L enter multiplicatively. AL is referred to as effective labor, and technological progress that enters in this fashion is known as laoraugmenting or Harrodneutral. This way of specifying how A enters, together with the other assumptions of the model, will imply that the ratio of capital to output, K/Y, eventually settes down. ? In practice, capitaloutput ratios do not show any clear upward or downward trend over extended periods. In additon, building the model so that the ratio is eventually constant makes the analysis much simpler. Assuming that A multiplies L is therefore very convinient . ? The central assumptions of the solow model concern the properties of the production function and the evolution of the three inputs into production (capital, labor, and knowledge) over time. We discuss each in turn. ? Production function ? It has constant returns to scale in its two arguments, capital and effective labor. That is , doubling the quantities of capital and effective labor (for example, by doubling K and L with A hild fixed) doubles the amount produced. ? More generally, multipling both arguments by any nonnegative constan
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