[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