Characterize the equilibrium path of this economy and show


Consider the neoclassical growth model with Cobb-Douglas technology y(t) = Ak(t)α (expressed in per capita terms) and log preferences. Characterize the equilibrium path of this economy, and show that as α → 1, the equilibrium path approaches that of the baseline AK economy. Interpret this result.

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Econometrics: Characterize the equilibrium path of this economy and show
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