Table 2
Parameters of the model values
|
Symbol |
Meaning |
Value |
|
β |
Time preference |
0.985 |
|
δ |
Depreciation rate |
0.016 |
|
θ |
Span of managerial control |
0.825 |
|
α |
Capital elasticity of output/θ |
0.340 |
|
ρ |
Reserve requirement |
0.030 |
31
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