From 595a555656ebabcb845c1374d6fce8652fcde408 Mon Sep 17 00:00:00 2001 From: shlff Date: Thu, 2 Nov 2023 12:38:25 +1100 Subject: [PATCH] [olg] update links and punctuations --- lectures/olg.md | 12 ++++++------ 1 file changed, 6 insertions(+), 6 deletions(-) diff --git a/lectures/olg.md b/lectures/olg.md index b17af215..2097700b 100644 --- a/lectures/olg.md +++ b/lectures/olg.md @@ -30,8 +30,8 @@ model. ## Overview -The dynamics of the OLG model are quite similar to those of the Solow-Swan -growth model. +The dynamics of the OLG model are quite similar to those of the [Solow-Swan +growth model](https://intro.quantecon.org/solow.html). At the same time, the OLG model adds an important new feature: the choice of how much to save is endogenous. @@ -78,7 +78,7 @@ An individual born at time $t$ lives for two periods, $t$ and $t + 1$. We call an agent - "young" during the first period of their lives and -- "old" during the second period of their lives +- "old" during the second period of their lives. Young agents work, supplying labor and earning labor income. @@ -232,8 +232,8 @@ describing demand for capital given prices. ### Firm's problem -For each integer $t \geq 0$, output $y_t$ in period $t$ is given by -the **Cobb-Douglas production function** +For each integer $t \geq 0$, output $y_t$ in period $t$ is given by the +**[Cobb-Douglas production function](https://en.wikipedia.org/wiki/Cobb%E2%80%93Douglas_production_function)** ```{math} :label: cobb_douglas @@ -694,7 +694,7 @@ Visualize the dynamics using a 45 degree diagram. ``` -To solve for $k_{t+1}$ given $k_t$ we use Newton's method. +To solve for $k_{t+1}$ given $k_t$ we use [Newton's method](https://python.quantecon.org/newton_method.html). Let