Barseghyan, Levon; DiCecio, Riccardo - 2009
]
study of Brazil emphasizes the improper regulation and the large size of the informal sector
as major contributors to slow …;Kt+1g1t=0
1X
t=0
tU(Ct); 2 (0;1) (3.1)
s.t. Ct +Kt+1 (1 )Kt = rtKt +wtN + t +TRt;
whereCt denotes consumption,Kt is … and TFP
fall.
7If F has support over [x;1); where x is strictly positive, then the free-entry condition can be written
as …