Malthusian regime: The Basic Structure of the Model 5

As is apparent from (17). e”(gt+1) depends upon the third derivatives of the production function of human capital. A concave reaction of the level of education to the rate of technological progress appears plausible economically, hence it is assumed tha

The following proposition summarizes the properties of the intertemporal functions e(gt+1), na(zt,gt+i), and nb(gt+i) and their significance for the evolution in the substitution of quality for quantity in the process of development:
Technological Progress

Suppose that technological progress, gt+1, that takes place between periods t and t + 1 depends upon the education per capita among the working generation in period £, ety and the population size in period t, Lt ace payday loan