[olg] Unfinished editorial suggestions

[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:

  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

• [ ] 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

[SylviaZhaooo]

Second series of comments of Lecture 26:

• [ ] For equation (24.14), stress that it is the equilibrium by replacing R(t+1) with R(t+1)^*, for example? Different from star sign because then, we will have too many stars.
• [ ] Drop the image below:

But keep

• [ ] Have the plots with multiple initial conditions. When k = 0, …

• [ ] Have k* and the actual numbers

• [ ] List the motivation behind the CRRA preferences