R: Mankiw-Romer-Weil Growth Model Steady State

MRW_steady_state {Recon}

R Documentation

Mankiw-Romer-Weil Growth Model Steady State

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

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


MRW_steady_state(gamma = .005)

[Package Recon version 0.3.0.0 Index]