Your videos are simply incredible, Constantin. By far, one of the best RUclips channel about macroeconomics! I hope to see new videos from you soon! Thank you very much.
Thank you for the video. I finally be able to understand how I can use hamiltonian in ramsey-koopman model. My professor just skip that part very briefly. And I want to ask one thing from you: I'm a undergraduate student, sometimes I cannot understand the intuition behind the model or the outcome that we calculated. Can you briefly told me about the intuition of this outcome in this video? Thank you again.
In the end, you have two equations (one for consumption (Euler Equation) and one for capital). The consumption one shows what return you need to get on future consumption to be indifferent to receiving consumption today. E.g. one unit consumption today is equivalent to 1.5 units of consumption tomorrow. The capital equation just shows how much capital you will have tomorrow, based on your previous capital and current consumption. The next step you could take is to solve the system of equations to obtain the equilibrium as well as the dynamics in the economy (e.g. a phase diagram).
Very nice video, could you please add on concavity, convexity, maxima, minia, semi definite, hessian, jacobian....etc, The structure of Economics, A mathematical Analysis... by Silberberg
Yes, it is very similar. The main difference is that I do not account for population growth. Using the steps from the video should allow you to solve the model with population growth though.
Constantin Bürgi Thanks for the reply! I thought the maths looked familiar that's why. Is it possible for you to make a video on the RCK model and Diamond Overlapping Generation Model with comparison of the two? I think that would be immensely helpful.
ruclips.net/video/A_MJZh97FVM/видео.html goes over the OLG model and the discrete time RCK model is (almost) the same equations. I am not sure I will create a video specifically comparing the two models, but at the end of the OLG model I show that the steady state capital might not be equal to the golden rule capital level. This is also the main difference between the two models. In RCK, agents re-adjust their savings such that this dynamic inefficiency does not arise. In the OLG model, agents might not re-adjust causing the dynamic inefficiency.
Your videos are simply incredible, Constantin. By far, one of the best RUclips channel about macroeconomics!
I hope to see new videos from you soon! Thank you very much.
wonderful explanation!! This guy explains very well! A big salute to you sir.
can you please do the full explanation of the derivations of Romers Macroecon book Ramsey Model ?
Thank you for the video. I finally be able to understand how I can use hamiltonian in ramsey-koopman model. My professor just skip that part very briefly. And I want to ask one thing from you: I'm a undergraduate student, sometimes I cannot understand the intuition behind the model or the outcome that we calculated. Can you briefly told me about the intuition of this outcome in this video? Thank you again.
In the end, you have two equations (one for consumption (Euler Equation) and one for capital). The consumption one shows what return you need to get on future consumption to be indifferent to receiving consumption today. E.g. one unit consumption today is equivalent to 1.5 units of consumption tomorrow. The capital equation just shows how much capital you will have tomorrow, based on your previous capital and current consumption. The next step you could take is to solve the system of equations to obtain the equilibrium as well as the dynamics in the economy (e.g. a phase diagram).
Great video! Many thanks for filming and sharing.
Excellent explanation. Thank you.
Nice explanation! It was very useful!!
You saved my life...big Salute Sir!! God bless you. My prof left that bit to me!!
Thank you so much, Constantin
thank you so much . it was so helpful
Thank you!
You are a life saver!
Excellent video!
thank you sir
Nice explained
thank you so much
Could anybody translate it to Turkish. It is very necessary
Very nice video, could you please add on concavity, convexity, maxima, minia, semi definite, hessian, jacobian....etc, The structure of Economics, A mathematical Analysis... by Silberberg
I will put it on the list for extensions.
Thank you so much
❤❤❤wonderful! Very clear explanation. Thank you!
What it took me to learn in an academic term, I learned in 20 minutes with this video. excellent explanation
Nicely done!
Thank you so much :)
Text books and lectuters are not detailed but this vídeo explains kindly each step carefully. Thank you very much.
Cogently and attractively explain. I am very so much more thankful for the insight you've given me.
what is the utility function that you have now written an u(c(t)) is ln(c(t))
No Economics left, just Math! 😂🤣😅
Thank you for the great content!
Very helpful! thank you
Boss!
thanks
Is this mathematical reprensentation similar to the one used in the ramsey-cass-koopmans macro model?
Yes, it is very similar. The main difference is that I do not account for population growth. Using the steps from the video should allow you to solve the model with population growth though.
Constantin Bürgi Thanks for the reply! I thought the maths looked familiar that's why. Is it possible for you to make a video on the RCK model and Diamond Overlapping Generation Model with comparison of the two? I think that would be immensely helpful.
I will put it on my list. It might take a few weeks though.
Constantin Bürgi i look forward to it!
ruclips.net/video/A_MJZh97FVM/видео.html goes over the OLG model and the discrete time RCK model is (almost) the same equations. I am not sure I will create a video specifically comparing the two models, but at the end of the OLG model I show that the steady state capital might not be equal to the golden rule capital level. This is also the main difference between the two models. In RCK, agents re-adjust their savings such that this dynamic inefficiency does not arise. In the OLG model, agents might not re-adjust causing the dynamic inefficiency.