1 Tech.progress in the Solow model ■Notation: y=YLE output per effective worker k=KLE capital per effective worker Production function per effective worker: y=f(k) -Saving and investment per effective worker: sy=sf(k) CHAPTER 5 Economic Growth Il slide 7 CHAPTER 5 Economic Growth II slide 7 Tech. progress in the Solow model ▪ Notation: y = Y/LE = output per effective worker k = K/LE = capital per effective worker ▪ Production function per effective worker: y = f(k) ▪ Saving and investment per effective worker: s y = s f(k) 1