高宏Chapter 2A.pptVIP

Chapter 2 Infinite-Horizon and Overlapping-Generations Model 周泳宏 tzhouyhjnu@jnu.edu.cn Introduction This chapter investigates two models Ramsey-Cass-Koopmans Model Diamond Model Both the models continue to treat the growth rates of labor and knowledge as exogenous But derive the evolution of the capital stock from the interaction of maximizing households and firms in competitive markets The saving rate is endogenous Modern theoretical macroeconomics research uses models based upon individual micro-optimising behaviour over time. There are two basic structural models upon which modern macroec