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