10 years has passed and you still continue saving students' exams! Thank you very much! Only playlist of videos with the solow model which comprehend everything and not only K/L
My pleasures. I genuinely still have plans to expand all this into all macro and econometrics one day too. There is too much high-polish, low-depth content on yt, there needs to be more people slowly plodding along explaining exactly what you need explained. And I think I can be a poster boy of low-polish in-depth econ stuff.
wow I dont think I can find another person explaing solow growth model concept in depth like this in any other youtube videos. I truly appreciate your effort and time you had put in. it must have been such a hard work.
These Solow Model videos are helping me a lot! Literally what I'm looking for, playing around with parameters and getting to know what every factor does. THANKS!
k is defined as K/L (AL)^(1-alpha)=A^(1-alpha)*L^(1-alpha) L^(1-alpha)/L = L^(1-alpha-1) = L^(-alpha) L^(-alpha) -> 1/L^(apha) Then you have K^(alpha)/L^(alpha) =(K/L)^(alpha) =k^(alpha) And the A isn't influenced by L.
Hi, I absolutely love your videos. They're very clear and help with getting a better understanding of the subject matter! I do have a question though. In an exercise I have to make they state "The total remuneration for labour is equal to 80% of total production." and the production function is y = k^(alpha). Does this mean that the alpha is equal to 20% as we saw earlier that it's equal to the share of income dedicated to capital and 1 minus alpha is equal to the share of income dedicated to labor? Thanks!
how does an increase in technology effect economic growth. Graphically the breakeven investment curve shifts up meaning the steady state moves left, resulting in lower capital per worker which would mean lower y*, but surely more tech progress would lead to higher y*
Hi I have a question - I'm having some trouble with these calculations.. Suppose an economy is described by the following: Y = 5Kˆ0.4(AL)ˆ0.6, will y=Y/AL=(5Kˆ0,4(AL)ˆ0,6)/(AL)=5kˆ04, and then will 5k(hat)ˆ0.4 be the input in the sf(k) (Consumption Function: C = 0.8Y, Depreciation Rate: 3%, Population Growth Rate: 1%, Technological Growth Rate: 3%, Find the steady state (long run) equilibrium values of i, k, y, c, s) hope you can help :)
10 years has passed and you still continue saving students' exams! Thank you very much! Only playlist of videos with the solow model which comprehend everything and not only K/L
My pleasures. I genuinely still have plans to expand all this into all macro and econometrics one day too. There is too much high-polish, low-depth content on yt, there needs to be more people slowly plodding along explaining exactly what you need explained. And I think I can be a poster boy of low-polish in-depth econ stuff.
this is literally saving my life in finals! thank you so much for producing this and sharing this!!
wow I dont think I can find another person explaing solow growth model concept in depth like this in any other youtube videos. I truly appreciate your effort and time you had put in. it must have been such a hard work.
These Solow Model videos are helping me a lot! Literally what I'm looking for, playing around with parameters and getting to know what every factor does. THANKS!
This video is too good for a thumbs up. I'm giving it a double thumps up. Thank you sir.
Thank you - you are doing amazing job with the level of details you present and clear demonstration style you apply. Thumbs up thousand times.
These videos are half the length of my lectures but about 18 thousand times better and easier to understand.
As a student taking Intermediate macro in the spring 24, THANK YOU
Awesome! I'm glad their helping someone!
This is so incredibly helpful, thank you.
Awesome. I'm glad you made it to the last video of the series!
Thankyou sir for explaining everything so patiently!
Thanks man. I really appreciate this tutorial. Very helpful and understandable.
At 12:50 where does the [L^(1-alpha)] / L go?
k is defined as K/L
(AL)^(1-alpha)=A^(1-alpha)*L^(1-alpha)
L^(1-alpha)/L = L^(1-alpha-1) = L^(-alpha)
L^(-alpha) -> 1/L^(apha)
Then you have K^(alpha)/L^(alpha) =(K/L)^(alpha) =k^(alpha)
And the A isn't influenced by L.
OMG, thank yoooooou soooo much, this info is great! it really helps
Hi, do you have any videos on the Ramsey model?
Great video man, would love for you to do one on Romey
You're welcome. happy to help
Excellent work. Much appreciated.
Hi @economicurtis, what should I review to understand the algebra in this video?
Where are parts 2 and 3 in the play list
Thank you a lot for sharing this
Could you please show me how to find the k, L and technology from the growth accounting, with an exemplar.
Thank you
No no no, I appreciate your kind words!
Hi, I absolutely love your videos. They're very clear and help with getting a better understanding of the subject matter!
I do have a question though. In an exercise I have to make they state "The total remuneration for labour is equal to 80% of total production." and the production function is y = k^(alpha). Does this mean that the alpha is equal to 20% as we saw earlier that it's equal to the share of income dedicated to capital and 1 minus alpha is equal to the share of income dedicated to labor? Thanks!
how does an increase in technology effect economic growth. Graphically the breakeven investment curve shifts up meaning the steady state moves left, resulting in lower capital per worker which would mean lower y*, but surely more tech progress would lead to higher y*
Can you elaborate how you got 15:42?
Does Technological Growth leads to Level Effects as well as Growth Effects? Please answer
thanks for the upload, is there anyway this model can be used in terms of forming a strategy to improve labor productivity in a developing country??
very clear and helpful. Thanks
do you have anything on ramsey cass koopmans model? or diamond?
One day! -I'd probably do the Romey model (with endogenous technology) first. But one day!
PLEASE, GIVE THE PEOPLE WHAT THEY WAAANT!!
which book for reference? and which one for an intermediate macro course?
Thank you for that video
Amazing!! Thank you!
Hi
I have a question - I'm having some trouble with these calculations..
Suppose an economy is described by the following: Y = 5Kˆ0.4(AL)ˆ0.6,
will y=Y/AL=(5Kˆ0,4(AL)ˆ0,6)/(AL)=5kˆ04, and then will 5k(hat)ˆ0.4 be the input in the sf(k)
(Consumption Function: C = 0.8Y, Depreciation Rate: 3%, Population Growth Rate: 1%, Technological Growth Rate: 3%, Find the steady state (long run) equilibrium values of i, k, y, c, s)
hope you can help :)
Great video. How come you haven't included the growth rate of productivity in your law of motion equation? :) It does so in my book -.- so confusing
+Hungtington which book are you using? Jones by chance?
haha, thanks. we should maybe not have links to copyrighted works in your youtube comments!
Thank you so Much.
why would technology growth rate (g) reduce the steady state level of capital
THANK YOU
hi, what 'E' is in 17:52?
Chris LAM That's a typo I guess. It should be 'A'
Should read "PER CAPITA" not "PER CAPITAL", PER CAPITA means PER HEAD
This is so incredibly helpful, thank you.