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TRANSCRIPT
CLASS NOTES -
Econ 3029
LECTURE 1 Jan 12, 2018
Jan 1512018
JAN 12, 2018
'
b=b (g)+ ) birth and mortality rates
m= mly)MODEL :
-D=P( g) ) Technology
s
Dynamics of population :P•CH=blyH)Pa) - mlyctt ) Pt|y(H=yCPt)
Head, slated, the system :b
,def. P%)=o tt
⇐K#=oDynamics : P°f¥n=b( get - m¢g¢D RCH
Note Discrete vs tontine .s time .
×^ strainere-
Itttto ttezo Lezo t
Xt : Change in XE : X⇐s - Ye Duwktie
XCH chzsixct ) : hi Xtes - Xtso g-
=X' A-)lied =•xH )Fattspia
-mphP°Hg)
= fyjkftitiith ieate If .
Population
Jan 15,2018 Convergence To THE STEADY STATE
b. m^ b
←•
#}p%, > °
*=D1 .
i
i yi
l(t.pt#a
%) - -- -
-- - -
got:-..
y$ yw) y
Cy ) CONVERGENCE TO THE STEADY STATE
" ftp.:ifnot'÷=:
C.?
INCREASCINBLRTHMFED⇐ad9}¥s°
b
¥in{ ( m,¥gP I I
p$* I (. Itp* ..
. - -
j. .
-
.H÷,
p.gg€NCRw=3lrim
p.se#p* it:#
TECHNICAL CHANGE
a•b
then.
⇐gas ( yp
D I i
i ipare ---9*7e€t
go y
U NlFlEDGR=HtDL
AnutPnoBLen_ Max U=
matzlogn| st . pn+@ < w
budget entrant rewrites
M= W - pn
=D Max µ = w - Pn + rlognFI du
go ⇐ - Pt F=o⇐ fn=±⇒