From f45fc1c9aa6431e16d6c3ef45900ea1260b93f21 Mon Sep 17 00:00:00 2001
From: Longye Tian <longye.tian@outlook.com>
Date: Tue, 23 Jul 2024 18:19:38 +1000
Subject: [PATCH 1/2] add explanation to parameters and add explanation of k
---
lectures/scalar_dynam.md | 5 ++---
1 file changed, 2 insertions(+), 3 deletions(-)
diff --git a/lectures/scalar_dynam.md b/lectures/scalar_dynam.md
index 18c8568c..d674b813 100644
--- a/lectures/scalar_dynam.md
+++ b/lectures/scalar_dynam.md
@@ -220,11 +220,10 @@ For example, in a later lecture {doc}`solow`, we will study the Solow-Swan growt
```{math}
:label: solow_lom2
-k_{t+1} = s z k_t^{\alpha} + (1 - \delta) k_t
+k_{t+1} = s A k_t^{\alpha} + (1 - \delta) k_t
```
-Here $k$ is the per capita capital stock and $s, z, \alpha, \delta$ are positive
-parameters with $0 < \alpha, \delta < 1$.
+Here $k=K/L$ is the per capita capital stock, $s$ is the saving rate, $A$ is the total factor productivity, $\alpha$ is the capital share, and $\delta$ is the depreciation rate. All these parameter are positive and $0 < \alpha, \delta < 1$.
If you try to iterate like we did in {eq}`sdslinmodpath`, you will find that
the algebra gets messy quickly.
From dc657a75e94a7ca27b9e4f451841b08f9a7c2526 Mon Sep 17 00:00:00 2001
From: Longye Tian <longye.tian@outlook.com>
Date: Tue, 23 Jul 2024 19:05:05 +1000
Subject: [PATCH 2/2] update
---
lectures/scalar_dynam.md | 4 +++-
1 file changed, 3 insertions(+), 1 deletion(-)
diff --git a/lectures/scalar_dynam.md b/lectures/scalar_dynam.md
index d674b813..5926a3f6 100644
--- a/lectures/scalar_dynam.md
+++ b/lectures/scalar_dynam.md
@@ -223,7 +223,9 @@ For example, in a later lecture {doc}`solow`, we will study the Solow-Swan growt
k_{t+1} = s A k_t^{\alpha} + (1 - \delta) k_t
```
-Here $k=K/L$ is the per capita capital stock, $s$ is the saving rate, $A$ is the total factor productivity, $\alpha$ is the capital share, and $\delta$ is the depreciation rate. All these parameter are positive and $0 < \alpha, \delta < 1$.
+Here $k=K/L$ is the per capita capital stock, $s$ is the saving rate, $A$ is the total factor productivity, $\alpha$ is the capital share, and $\delta$ is the depreciation rate.
+
+All these parameter are positive and $0 < \alpha, \delta < 1$.
If you try to iterate like we did in {eq}`sdslinmodpath`, you will find that
the algebra gets messy quickly.