The Basic RBC Model Production function and resource constraint: Y,=K(A,L,)1-a K1+1=K,+I,-6K K,+Y,-C,-G,-6K FOC→ w,=(1-aA,, K)“A 6=(4 1-a-6 电子科大经管学院马捷 11 元元元
The Basic RBC Model Production function and resource constraint: FOC 电子科大经管学院 马捷 11 t t t t t t t t t t t t t K Y C G K K K I K Y K A L 1 1 ( ) 1 ( ) ( 1 )( ) t t t t t t t t t K A L r A A L K w
Consumer Side -Household Utility: 00 N U=∑eu(c,1-l,) t=0 0 Individual utility: u,In c,+b In(1-1,),b>0 Population dynamics: lnN,=N+n·t,n<p 电子科大经管学院马捷 12 元元元元元
Consumer Side Household Utility: Individual utility: Population dynamics: 电子科大经管学院 马捷 12 H N U e u c l t t t t t ( ,1 ) 0 u ln c b ln( 1 l ), b 0 t t t ln N t N n t , n