【正文】
(y*/k*) ? sδ ? n= 0 s[ s(y/k) ? sδ ? n ??y/y = αY/K ? sδ Macroeconomics Chapter 3 38 Solow Growth Model ??k/k = ?K/K ? ?L/L ??k/k = s(Y?δK) = I?δK ? Real saving = investment Macroeconomics Chapter 3 36 Solow Growth Model ??K = I?δK ? Change in capital stock = gross investment ? depreciation, or Change in capital stock = investment ? ?K = s(Y?δ K) Real ine = consumption + real saving Macroeconomics Chapter 3 34 Solow Growth Model ? Y = C + I ? Real GDP = consumption + gross investment ? Y?δK = C + (I?δK) ? Real NDP = consumption + investment Macroeconomics Chapter 3 35 Solow Growth Model ? C+s (real ine) ? ()saving rate ≡ real saving/real ine ? Some other books use “gross saving rate”, gross saving ≡s (?k/k) Macroeconomics Chapter 3 31 Solow Growth Model ? Each household divides up its real ine in a fixed proportion s to saving and 1 ? s to consumption ( C ). ? Capital depreciate at the same constant rate δ ? δK is the amount of capital that depreciates each year Macroeconomics Chapter 3 32 Solow Growth Model ? Real saving = s (?L/ L) + ?L/ L ? ?Y/Y ? ?L/L = α (?L/L) ? ?Y/Y= α(?L/L) ? The growth rate of real GDP is a weighted average of the grow