Description Usage Arguments Value Author(s) Examples

View source: R/growth_models_steady_states.R

This function computes steady state income, capital and human capital per worker given relevant parameters according to the MRW model.

1 2 | ```
MRW_steady_state(n = 0.01, g = 0.01, alpha = 0.33, beta = 0.33,
sk = 0.01, sh = 0.01, delta = 0.01, gamma = 0)
``` |

`n` |
is population growth rate. Defaults to .01. |

`g` |
is the technological growth rate. Defaults to .01. |

`alpha` |
is capital-output elasticity. Defaults to .33 as estimated by Mankiw, Romer and Weil. |

`beta` |
is the human capital-output elasciticy. Defatults to .33 as estimated by Mankiw, Romer and Weil. |

`sk` |
is the savings rate devoted to physical capital. Defaults to .01. |

`sh` |
is the savings rate devoted to human capital. Defaults to 0.1. |

`delta` |
is the physical capital stock's depreciation rate. Defaults to .01. |

`gamma` |
is the human capital stock's depreciation rate. Defaults to 0. |

List with steady state capital, human capital and income per capita

Pedro Cavalcante Oliveira, Department of Economics, Fluminense Federal University

1 | ```
MRW_steady_state(gamma = .005)
``` |

Embedding an R snippet on your website

Add the following code to your website.

For more information on customizing the embed code, read Embedding Snippets.