{ "cells": [ { "cell_type": "markdown", "metadata": {}, "source": [ "### Malthusian Model: Convergence \n", "\n", "Recall:\n", "\n", ">(2.29) $ \\frac{dL/dt}{L} = \\frac{d\\ln(L)}{dt} = n = \\beta \\left( \\frac{y}{\\phi y^{sub}}-1 \\right) $\n", "\n", ">(2.39) $ \\ln(y) = \\theta\\ln(\\kappa) + \\ln(H) -\\ln(L)/\\gamma $\n", "\n", "Substitute:\n", "\n", ">(2.40) $ \\frac{1}{L}\\frac{dL}{dt} = \\frac{d\\ln(L)}{dt} = n = \\beta \\left( \\frac{\\kappa^\\theta H L^{-\\gamma}}{\\phi y^{sub}}-1 \\right) $\n", "\n", ">(2.41) $ \\frac{d\\kappa}{dt} = -(1-\\alpha)(h + (1-1/\\gamma)n +\\delta)\\kappa + (1-\\alpha)s $\n", "\n", "Define population-adjusted-for-ideas $ P $:\n", ">(2.42) $ P = L H^{-\\gamma} $\n", "\n", "Then we have two state variables—capital-intensity $ \\kappa $, the capital-output ratio, and population-adjusted-for-ideas $ P $. We have two dynamic equations: The rate of change of population-adjusted-for-ideas $ P $ is a function of the capital-output ratio and itself: \n", "\n", ">(2.43) $ \\frac{1}{P}\\frac{dP}{dt} = p = \\beta \\left( \\frac{\\kappa^\\theta }{P^{1/\\gamma} \\phi y^{sub}}-1 \\right) -h\\gamma $\n", "\n", "And the rate of change of capital-intensity $ \\kappa $ is a function of itself andf of the rate of change of population-adjusted-for-ideas $ P $:\n", "\n", ">(2.44) $ \\frac{d\\kappa}{dt} = (1-\\alpha)s -(1-\\alpha)((1-1/\\gamma)p +\\delta)\\kappa $\n", "\n", "With the two parameters $ \\alpha $ and $ \\theta $ related by:\n", "\n", ">(2.45) $ \\theta = \\frac{\\alpha}{1-\\alpha} $\n", "\n", ">(2.46) $ \\alpha = \\frac{\\theta}{1+\\theta} $\n", "\n", "And if we set:\n", "\n", ">(2.47) $ P = \\Pi P^{*mal} $\n", "\n", ">(2.48) $ \\frac{1}{\\Pi}\\frac{d\\Pi}{dt} = p = \\beta \\left[ \\pi^{(-1/\\gamma)} \\kappa^\\theta (s/(\\delta + \\gamma h))^{-\\theta} (1 + \\gamma h/\\beta) -1 \\right] - h \\gamma $\n", "\n", "(2.44) and (2.48) are then our system...\n", "\n", "\n", "\n", "\n", " \n", "\n", "#### 2.9: Model Simulation Experiments \n", "\n", "\n", "And, with respect to its dynamics, in Python:\n", "\n", " delong_classes.malthusian\n", " \n", "at:\n", "\n", "> \n", "\n", " \n", "we can examine how the simulated model behaves dynamically.\n", "\n", " \n", "\n", "----" ] } ], "metadata": { "kernelspec": { "display_name": "Python 3", "language": "python", "name": "python3" }, "language_info": { "codemirror_mode": { "name": "ipython", "version": 3 }, "file_extension": ".py", "mimetype": "text/x-python", "name": "python", "nbconvert_exporter": "python", "pygments_lexer": "ipython3", "version": "3.6.7" } }, "nbformat": 4, "nbformat_minor": 4 }