Steady-State Growth Rates in the Solow Model with Tech.Progress Variable Symbol Steady-state growth rate Capital per effective worker k=KW(L×E) 0 Output per 0 effective worker y=YY(L×E) Output per worker (YML)=y×E Total output Y=y×E×L n+g CHAPTER 5 Economic Growth Il slide 10 CHAPTER 5 Economic Growth II slide 10 Steady-State Growth Rates in the Solow Model with Tech. Progress Total output Y = y E L n + g Output per worker (Y/ L) =y E g y =Y/(L E ) 0 Output per effective worker k =K/(L E ) 0 Capital per effective worker Steady-state growth rate Variable Symbol 1