高宏Chapter2B概论.ppt

Chapter 2Part BThe Diamond Model 周泳宏 tzhouyhjnu@jnu.edu.cn The central difference between the Diamond model and the Ramsey-Cass-Koopmans model is that there is turnover in the population in OLG With turnover, it turns out to be simpler to assume that time is discrete rather than continuous t=0,1,2 rather than t=0 2.8 Assumptions Each individuals lives for only two periods Each individual supplies 1 unit of labor when he (she) is young and divides the resulting labor income between first-period consumption and saving; in the second period, the individual simply consumes the saving and any in