I. Building the OLG Model (MW, chap. 1 and 2)
- notation and environment
- definitions
- budget constraints and consumption/saving decisions
- aggregate savings and competitive equilibrium condition
- a two-country model
II. Introducing a Government (MW chap. 3)
- taxes, transfers and social security schemes
- optimal taxation
- government consumption
- deficit financing, government bonds
- Ricardian equivalence
- a two-country model
III. Introducing Multi-Period Assets (MW chap. 5)
- long-term government bonds
- temporary equilibrium
- rational expectations
- perfect foresight equilibrium
- the term structure of interest rates
IV. The Neoclassical Growth Model (MW chap. 9)
- production economy
- equilibrium paths when there is no growth
- equilibrium paths when there is population growth
- equilibrium paths when there is technological growth
- a two-country model
V. Stochastic OLG Model and Real Business Cycles (notes)
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