Difference between revisions of "Motivations for using a mathematical model of growth"
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Revision as of 19:49, 16 September 2017
TODO talk about the point of the model. What do we want out of it? (1) We want to know what happens to all the endogenous variables given the equations and the exogenous variables; (2) we want to know what happens to the output as a whole when we adjust the parameters ("comparative statics"). The latter is what tells us things like "increase the savings rate to grow the economy".