B0◦ 21B5←-

Homework. Solow model.

Usando un modelo de Solow con crecimiento en tecnología de

t
At = (1 + α) ∗ A0

con At = 5 y α = 0. 01,
(1) Encuentre los caminos de capital y de producto per capita por 25 periodo
cuando k (0) = 40 y k (0) = 0. 01 cuando . Usar s = 0. 15, θ = 0. 57, y
δ = 0. 018.
Clearing workspace

clear % C l e a r i n g workspace
close all % C l o s i n g gr aph s

Initial values

kt = z e r o s ( 2 5 , 1 ) ;
kt ( 1 ) = 40

kt = 25 x1
40
0
0
0
0
0
0
0
0
0

At = z e r o s ( 2 5 , 1 ) ;
At ( 1 ) = 5 % time 0 l e v e l o f t e c h n o l g y

At = 25 x1
5
0
0
0
0
0
0 1
0
0
0
Parameters

alpha = 0.01 % n e t r a t e o f growth o f t e c h n o l o g y

Creación de las sendas

y = zeros (25 ,1) ;

f o r a = 2 :T
At ( a ) = ( 1 + a l p h a ) ^ ( a ) ∗ 5 ;
kt ( a ) = ( ( 1 - d e l t a ) ∗ kt ( a - 1 ) + s ∗At ( a ) ∗ kt ( a - 1 ) ^ t h e t a ) / ( 1 + n ) ;
y ( a ) = ( 1 + a l p h a ) ^ ( a ) ∗At ( 1 ) ∗ kt ( a ) ^ t h e t a ;
end

Gráficos

s u b p l o t ( 3 , 1 , 1 ) , p l o t ( kt )
t i t l e ( ’ Capital ’ )
subplot (3 ,1 ,2) , plot (y)
t i t l e ( ’ Producto ’ )

Nota: queda pendiente la resolución por interación con la alternativa de

capital inicial (40).

(2) Muestre los gráficos de las tasas de crecimiento de capital.

gamma = z e r o s ( 2 5 , 1 ) ;
f o r a = 2 :T
gamma( a ) = ( ( 1 - d e l t a ) ∗ kt ( a - 1 ) + s ∗At ( a ) ∗ kt ( a - 1 ) ^ t h e t a ) / ( ( 1 + n ) ∗ kt ( a - 1 ) ) ;
end
s u b p l o t ( 3 , 1 , 3 ) , p l o t (gamma)
t i t l e ( ’ Tasa de c r e c i m i e n t o d e l c a p i t a l ’ )

2
(3) Describe the time path for a Solow model where there is an externality for
each firm and each firmm has the production function:

ytj = At ktθ ht1−θ Kt1−θ

Lower case letters are for the firm and upper case letters are for the economy
as a whole. The total capital in the economy functions as an externality for
each firm.

Respuesta. (En base al modelo de Romer con externalidades del capital) Each
invidigual firm operates the following production funciton:

K, H, K̄ = AKα H 1−α K¯ρ

F

where Kand Hare capital and labor inputs for the firm, and K̄is the average
capital stock in the economy. Individual firms views this average capital stock
as given, althought their input behavior will indeed affect K̄. This is where
the externality cames from. We assume that ρ = 1 − α. Asume that there is a
representative firm, therefore, K = K̄, in particular, K̄ = k̄], the production
funtions is:

3
 ytj = At ktθ ht1−θ kt1−θ

ytj = At kt ht1−θ

where de PMK is:

∂yt
PMK = =
∂kt
At ht1−θ

so, the PMK is constant in respecto to k.