10/6/04. Macro; Chyi. 2. Ramsey (1928) growth model. Relax the assumptions that the saving rate is exogenous and constant.Empirical observation: saving rates increase with economic developmentRicher dynamics of savings imply changes in transitional dynamics and speed of convergence. 10/6/04. M
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1. Lecture 4. Ramsey Model 4.2 The Optimal Growth Problem
2. 10/6/04 Macro; Chyi 2