Titlebook: Experimenting with Dynamic Macromodels; Growth and Cycles Pier Carlo Nicola Book 2008 Springer-Verlag Berlin Heidelberg 2008 Cycles.Forschu

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https://doi.org/10.1007/978-3-642-39599-4identified with total undiscounted consumption, ., enjoyed by all persons along the time horizon, . = 120. As we mentioned in the preface, considering no discount implies that all generations are treated on a par, as Ramsey long ago advocated.

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Stationary Population: CES Simulationsthe production function. Simulations are also extremely sensitive to the choice of the value of ., given the same values for all other parameters, and given the same starting values for the state variables.

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Stationary Population: Leontief Simulationsapter| 4 this production function generates the following demand function for labour: . otherwise we have . Indeed, since output has been chosen as a| numeraire, . measures the marginal productivity of labour input.

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Effects of Public Expenditure the production of infrastructure,1 on the performance of the economy, and especially on its growth. The model to be implemented was presented in Chapter 6, and we consider simulations for the case of a stationary population, and thus a stationary labour supply, whose value is . = 100, and for a Cobb–Douglas production function.

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Material Welfare Comparisonsidentified with total undiscounted consumption, ., enjoyed by all persons along the time horizon, . = 120. As we mentioned in the preface, considering no discount implies that all generations are treated on a par, as Ramsey long ago advocated.

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978-3-540-77396-2Springer-Verlag Berlin Heidelberg 2008

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Experimenting with Dynamic Macromodels978-3-540-77397-9Series ISSN 0075-8442 Series E-ISSN 2196-9957

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Population Dynamics and the Labour Markets articles and books published on this subject. A very extensive collection of papers on labour is contained in the five volumes titled . (1986–), edited by Ashenfelter et al. Of course, labour is supplied by people, and thus, ceteris paribus, is a function of the number of people in the economy. He

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