Skip to content

Commit e8ef870

Browse files
committed
fix small typos in cagan_ree
1 parent 517f19a commit e8ef870

File tree

1 file changed

+5
-5
lines changed

1 file changed

+5
-5
lines changed

lectures/cagan_ree.md

Lines changed: 5 additions & 5 deletions
Original file line numberDiff line numberDiff line change
@@ -53,7 +53,7 @@ To facilitate using linear matrix algebra as our main mathematical tool, we'll
5353
As in the {doc}`present values <pv>` and {doc}`consumption smoothing<cons_smooth>` lectures, the only linear algebra that we'll be using are matrix multiplication and matrix inversion.
5454

5555

56-
## Structure of the Model
56+
## Structure of the model
5757

5858

5959
The model consists of
@@ -148,7 +148,7 @@ $$ (eq:pieq)
148148
By multiplying both sides of equation {eq}`eq:pieq` by the inverse of the matrix on the left side, we can calculate
149149
150150
$$
151-
\vec \pi \equiv \begin{bmatrix} \pi_0 \cr \pi_1 \cr \pi_2 \cr \vdots \cr \pi_{T-1} \cr \pi_T
151+
\pi \equiv \begin{bmatrix} \pi_0 \cr \pi_1 \cr \pi_2 \cr \vdots \cr \pi_{T-1} \cr \pi_T
152152
\end{bmatrix}
153153
$$
154154
@@ -192,8 +192,8 @@ $$
192192
m_t = m_0 + \sum_{s=0}^{t-1} \mu_s, \quad t =1, \ldots, T+1
193193
$$ (eq:mcum)
194194
195-
Equation {eq}`eq:mcum` shows that the log of the money supply at $t$ equals the log $m_0$ of the initial money supply
196-
plus accumulation of rates of money growth between times $0$ and $t$.
195+
Equation {eq}`eq:mcum` shows that the log of the money supply at $t$ equals the log of the initial money supply $m_0$
196+
plus accumulation of rates of money growth between times $0$ and $T$.
197197
198198
## Continuation values
199199
@@ -250,7 +250,7 @@ m0 = 1
250250
251251
+++ {"user_expressions": []}
252252
253-
Now we can solve the model to compute $\pi_t$, $m_t$ and $p_t$ for $t =1, \ldots, T+1$
253+
Now we can solve the model to compute $\pi_t$, $m_t$ and $p_t$ for $t =1, \ldots, T+1$ using the matrix equation above
254254
255255
```{code-cell} ipython3
256256
def solve(model):

0 commit comments

Comments
 (0)