Table 2.
Open in new tab

Steady-state growth rates.

VariablesGrowth rate
|$r, \frac{P^H H}{NNP}, \frac{W}{NNP}, \frac{P^{LH} L^H}{P^H H}, L^Y, L^H, N^X, N^Y, N^{L}$|0
|$Y, K, M, w, R^{LY}, P^{LY}, P^{LH}, C, NNP, W$||$ \frac{\beta }{1-\alpha } g^Y$|
|$X, I^X$||$ \eta \frac{\beta }{1-\alpha } g^Y + (1-\eta ) g^X$|
|$P^X$||$ (1-\eta ) \left( \frac{\beta }{1-\alpha } g^Y - g^X \right)$|
|$D, H$||$ \gamma \eta \frac{\beta }{1-\alpha } g^Y + \gamma (1-\eta ) g^X$|
|$q, P^H$||$ (1-\gamma \eta ) \frac{\beta }{1-\alpha } g^Y - \gamma (1-\eta ) g^X$|
VariablesGrowth rate
|$r, \frac{P^H H}{NNP}, \frac{W}{NNP}, \frac{P^{LH} L^H}{P^H H}, L^Y, L^H, N^X, N^Y, N^{L}$|0
|$Y, K, M, w, R^{LY}, P^{LY}, P^{LH}, C, NNP, W$||$ \frac{\beta }{1-\alpha } g^Y$|
|$X, I^X$||$ \eta \frac{\beta }{1-\alpha } g^Y + (1-\eta ) g^X$|
|$P^X$||$ (1-\eta ) \left( \frac{\beta }{1-\alpha } g^Y - g^X \right)$|
|$D, H$||$ \gamma \eta \frac{\beta }{1-\alpha } g^Y + \gamma (1-\eta ) g^X$|
|$q, P^H$||$ (1-\gamma \eta ) \frac{\beta }{1-\alpha } g^Y - \gamma (1-\eta ) g^X$|
Table 2.
Open in new tab

Steady-state growth rates.

VariablesGrowth rate
|$r, \frac{P^H H}{NNP}, \frac{W}{NNP}, \frac{P^{LH} L^H}{P^H H}, L^Y, L^H, N^X, N^Y, N^{L}$|0
|$Y, K, M, w, R^{LY}, P^{LY}, P^{LH}, C, NNP, W$||$ \frac{\beta }{1-\alpha } g^Y$|
|$X, I^X$||$ \eta \frac{\beta }{1-\alpha } g^Y + (1-\eta ) g^X$|
|$P^X$||$ (1-\eta ) \left( \frac{\beta }{1-\alpha } g^Y - g^X \right)$|
|$D, H$||$ \gamma \eta \frac{\beta }{1-\alpha } g^Y + \gamma (1-\eta ) g^X$|
|$q, P^H$||$ (1-\gamma \eta ) \frac{\beta }{1-\alpha } g^Y - \gamma (1-\eta ) g^X$|
VariablesGrowth rate
|$r, \frac{P^H H}{NNP}, \frac{W}{NNP}, \frac{P^{LH} L^H}{P^H H}, L^Y, L^H, N^X, N^Y, N^{L}$|0
|$Y, K, M, w, R^{LY}, P^{LY}, P^{LH}, C, NNP, W$||$ \frac{\beta }{1-\alpha } g^Y$|
|$X, I^X$||$ \eta \frac{\beta }{1-\alpha } g^Y + (1-\eta ) g^X$|
|$P^X$||$ (1-\eta ) \left( \frac{\beta }{1-\alpha } g^Y - g^X \right)$|
|$D, H$||$ \gamma \eta \frac{\beta }{1-\alpha } g^Y + \gamma (1-\eta ) g^X$|
|$q, P^H$||$ (1-\gamma \eta ) \frac{\beta }{1-\alpha } g^Y - \gamma (1-\eta ) g^X$|
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