2009年07月27日

Apology on LS Ex11-3 (e)(Very Important)

There is apology for you about LS Ex11.3-(e)

Although I've explained this part in TA session, that's totally incorrect!!

The solution explained in TA session is assumed that the productivity shift is unexpected. This excercise, however, is assumed that the productivity shift is anticipated..(First of all, if we consider "unexpected", the assumption that complete market exists is violated and it'll be complicated),

Therefore, the consumer considers the allocation of consumption such that consumption will be identical to the new steady state in the long run .It implies that the initial consumption(c_0) must not be the value of the old steady state.(Otherwise, we can't reach the new steady state.I've explained this in LS Ex11-1.(e)).

My solution surely tells us whether c_t(k_t) increases or decreases compared to c_{t-1}(k_{t-1}), but we can't pin this down exactly. So forget about my solution..

In conclusion, the solution to this part doesn't tell us whether c_t(k_t) increases or decreases compared to c_{t-1}(k_{t-1}).As the solution to LS Ex11-1.(e), we just show only the transition path(i.e. Euler Equation and Resouce Constraint).And determination on {c_t,k_t} counts on Matlab.

I am very very sorry for telling you the incorrect solution. I make an effort not to do this again.

If you don't understand what I say, or have any question, come to my room at my OH (this Wednesday)

Finally, thank Mr,Ino for your suggestion.



posted by Core Macro at 14:43| 日記 | このブログの読者になる | 更新情報をチェックする

2009年07月15日

Partial Solution for Problem Set #7

This is the solution for Ex5 (g) and Ex7 of Problem Set #7.

Although TA session for summer term ends, TA's office hour is still opened until the Final Exam(July 30th). So if you have a question or something, feel free to ask one of TAs.

posted by Core Macro at 16:55| 日記 | このブログの読者になる | 更新情報をチェックする

2009年07月14日

Final TA Session(July 15th:1st slot)

We will cover Ex5 (g) and LS Exercise Ch11(Ex1-Ex3) in Problem Set #7.

We will upload the solution for Exercise 7 after TA Session ends.

Please bring slides of the lecture(July 2th & July 9th)

Attention: We just cover Ex1-Ex3 of LS Ch11 first,because those are good exercises for Final Exam.And we cover EX5 (g) if time is remaining.
posted by Core Macro at 08:53| 日記 | このブログの読者になる | 更新情報をチェックする
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