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This document summarizes the neoclassical growth model with exogenous saving (Solow-Swan model). It presents the basic model where output is a function of technology, capital and labor. It then derives the intensive form of the model and presents the laws of motion for labor, technology and capital. Finally, it derives the fundamental dynamic equation for capital and shows that there is a unique steady-state level of capital intensity per worker where the growth rate of output per effective worker is zero.

Author

oum

Language

EN