Skip to content

[olg] Unfinished editorial suggestions #506

Open
@SylviaZhaooo

Description

@SylviaZhaooo

These comments were initially made in the wrong place but should have been in the [olg] lecture.

Comments @Jiarui-ZH:

  • Specify the time t = 2 in the sentence"We assume that time is discrete, so that t = 0, 1, ..."

  • Clarify convoluted sentence: “Their financial income is from interest on their savings from wage income, which is then combined with the labor of the new young generation at t+1.”Old guys have savings, which is capital. Production usually needs savings (capital) and labor from young energetic guys (labor).

  • Clarify “We normalize the constant population size in each period to 1.”? We assume that the population is constant, so we normalize the population size to 1.

  • Delete “Since u is strictly increasing, both of these constraints will hold as equalities at the maximum.” Make inequalities equalities:
    image

    for equation 24.2

  • Clarify that R is gross interest rate r?

  • Rename “24.3.2. Example: log preferences” to special case (“24.3.2. Special case: log preferences”?)

  • Explain Equation 24.8 (the logic of it and what each element means)

  • Clarify that w_t and l_t in terms of Equation 24.8 and

image

  • Clarify Equation 24.11 where it stresses that aggregate demand for capital for time t+1, which we write as a function for the interest rate.
  • Clarify Equation 24.6

Metadata

Metadata

Assignees

No one assigned

    Labels

    No labels
    No labels

    Type

    No type

    Projects

    No projects

    Milestone

    No milestone

    Relationships

    None yet

    Development

    No branches or pull requests

    Issue actions