Suppose that the production function in the Ramsey model is Y = AK" L-a. Determine the steady-state level of capital per worker. In David Card's 1990 paper on the Mariel Boatlift, he showed that a large influx of immigrants into Miami had little effect on wages. Explain how you would use this modified Ramsey model to explain this.

Suppose that the production function in the Ramsey model is Y = AK" L-a. Determine the steady-state level of capital per worker. In David Card's 1990 paper on the Mariel Boatlift, he showed that a large influx of immigrants into Miami had little effect on wages. Explain how you would use this modified Ramsey model to explain this.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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