OLG model with capital Flashcards
(18 cards)
what is the framework for the diamond olg model with capital>
what is the formula for the firms maximisation problem and how is it derived?
what are the first order conditions for the diamond olg model with capital
are there profits in the OLG capital model?
what are the per unit of effective labour values of output, capital and production function?
what is the final form of the production function if effective form?
how is the firms first order condition for capital derived?
how is the firms first order condition for labour?
what are the relationships between the production side of the economy for each t>1?
what is the utility maximising choice for the Initial old?
what are the budget constraints for young and old for a consumer born in period t>=1?
what is the lifetime budget constraint for the OLG capital model?
how is the optimal savings level derived for the OLG capital model? how is the substitution and income effect affected by s?
what are the summary relationships at utility maximising?
what is the national income identity in the OLG model?
how can the national income identidy be used to find the market clearing condition?
how is the equillibrium condition derived from the market clearing condition?
what is the final form of the firms profit maximising function with all endogenous variables?
