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=±⇒