Hi. I am a novice. Excuse me for asking this question. My question is about the calibration of the production function
I want to calibrate the production function. If the production function is as follows(in the steady state):
I do this for calibration:
But I have seen that the production is reported to be approximately equal to 1 in the different models :
The problem is: Y is never close to 1 with my method (around 0.3).
What is wrong with me?
Thank you in advance for your help