[cagan_adaptive] Update the code suggestions #400

longye-tian · 2024-03-14T08:30:35Z

Update coding suggestion in issue #392, more specifically, this pull request is related to

Set the default values in create_cagan_adaptive_model instead of global parameters. (Some parameters are still global and move to the Experiment 1 section as they are not part of the create_cagan_adaptive_model)
change inv to solve (I also modified the name of solve function to solve_cagan_adaptive to avoid confusion with the solve function in np)
remove extra print when checking the stability of dynamics.
in the section of 14.6. Technical condition for stability and add a new section that focuses on experiments.
give names to matrices and equations so that they can be referred in the code comment (I add comment in code to suggest matrix D is the coefficient matrix of equation (14.8))
Add comments in this function and give titles to subplots.
Change subtitle "Forcast error" -> "Forcast error and model computation"
Change the time notations for equations in the section "Experiment 1"

Update coding suggestion in issue #392, more specifically, this pull request is related to - Set the default values in `create_cagan_adaptive_model` instead of global parameters. (Some parameters are still global and move to the Experiment 1 section as they are not part of the `create_cagan_adaptive_model`) - change `inv` to `solve` (I also modified the name of `solve` function to `solve_cagan_adaptive` to avoid confusion with the `solve` function in `np`) - remove extra print when checking the stability of dynamics. - in the section of 14.6. Technical condition for stability and add a new section that focuses on experiments. - give names to matrices and equations so that they can be referred in the code comment (I add comment in code to suggest matrix D is the coefficient matrix of equation (14.8)) - Add comments in this function and give titles to subplots. - Change subtitle "Forcast error" -> "Forcast error and model computation" - Change the time notations for equations in the section "Experiment 1"

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longye-tian · 2024-03-20T10:43:43Z

Dear John (@jstac),

I have made an update to the coding suggestion in issue #392, incorporating the improvements we discussed.

At your convenience, would you please review the changes?

Best regards ❤️
Longye

jstac · 2024-03-20T23:17:11Z

lectures/cagan_adaptive.md

@@ -16,13 +16,13 @@ kernelspec:
 ## Introduction


-This lecture is a sequel or prequel to another lecture {doc}`monetarist theory of  price levels <cagan_ree>`.
+This lecture is a sequel or prequel to another lecture {doc}`A monetarist theory of  price levels <cagan_ree>`.


@longye-tian , would you mind to change this to "...prequel to {doc}`cagan_ree`." That way the title of the lecture will appear naturally, and it's not necessary to repeat it here (CC @HumphreyYang @mmcky). That approach is more robust, since it will update automatically if the title changes.

There are several similar instances below.

jstac · 2024-03-20T23:18:26Z

lectures/cagan_adaptive.md


-Like the model in this lecture {doc}`monetarist theory of  price levels <cagan_ree>`, the model asserts that when a government persistently spends more than it collects in taxes and prints money to finance the shortfall, it puts upward pressure on the price level and generates persistent inflation.
+Like the model in this lecture {doc}`A monetarist theory of  price levels <cagan_ree>`, the model asserts that when a government persistently spends more than it collects in taxes and prints money to finance the shortfall, it puts upward pressure on the price level and generates persistent inflation.


Like the model in {doc}`cagan_ree`, ...

jstac · 2024-03-20T23:18:57Z

lectures/cagan_adaptive.md


-Instead of the "perfect foresight" or "rational expectations" version of the model in this lecture {doc}`monetarist theory of  price levels <cagan_ree>`, our model in the present lecture is an "adaptive expectations"  version of a model that Philip Cagan {cite}`Cagan`  used to study the monetary dynamics of hyperinflations.  
+Instead of the "perfect foresight" or "rational expectations" version of the model in this lecture {doc}`A monetarist theory of  price levels <cagan_ree>`, our model in the present lecture is an "adaptive expectations"  version of a model that Philip Cagan {cite}`Cagan`  used to study the monetary dynamics of hyperinflations.  


...model in {doc}`cagan_ree`, our...

jstac · 2024-03-20T23:19:32Z

lectures/cagan_adaptive.md

@@ -278,7 +278,7 @@ $$ (eq:notre)
 This outcome is typical in models in which adaptive expectations hypothesis like equation {eq}`eq:adaptexpn` appear as a
 component.  

-In this lecture {doc}`monetarist theory of the price level <cagan_ree>`, we studied a version of the model that replaces hypothesis {eq}`eq:adaptexpn` with
+In this lecture {doc}`A monetarist theory of the price level <cagan_ree>`, we studied a version of the model that replaces hypothesis {eq}`eq:adaptexpn` with


In {doc}`cagan_ree`,

jstac · 2024-03-20T23:20:12Z

lectures/cagan_adaptive.md


 # solve and plot
 π_seq_1, Eπ_seq_1, m_seq_1, p_seq_1 = solve_and_plot(md, μ_seq_1)
 ```

-We invite the reader to compare outcomes with those under rational expectations studied in another lecture {doc}`monetarist theory of  price levels <cagan_ree>`.
+We invite the reader to compare outcomes with those under rational expectations studied in another lecture {doc}`A monetarist theory of  price levels <cagan_ree>`.


...studied in {doc}`cagan_ree`.

jstac · 2024-03-20T23:21:05Z

Many thanks @longye-tian ! I added some small additional requests. Would you mind to make these improvements as well?

This pull request updates the title reference.

longye-tian · 2024-03-21T01:57:06Z

Dear John ( @jstac ),

I have updated the title to the more robust version.

Best ❤️
Longye

jstac · 2024-03-21T23:44:49Z

lectures/cagan_adaptive.md

@@ -16,13 +16,13 @@ kernelspec:
 ## Introduction


-This lecture is a sequel or prequel to another lecture {doc}`monetarist theory of  price levels <cagan_ree>`.
+This lecture is a sequel or prequel to another lecture {doc}`cagan_ree`.


cut "another lecture"

jstac · 2024-03-21T23:45:01Z

lectures/cagan_adaptive.md


-Like the model in this lecture {doc}`monetarist theory of  price levels <cagan_ree>`, the model asserts that when a government persistently spends more than it collects in taxes and prints money to finance the shortfall, it puts upward pressure on the price level and generates persistent inflation.
+Like the model in this lecture {doc}`cagan_ree`, the model asserts that when a government persistently spends more than it collects in taxes and prints money to finance the shortfall, it puts upward pressure on the price level and generates persistent inflation.


cut "this lecture"

jstac · 2024-03-21T23:45:17Z

lectures/cagan_adaptive.md


-Instead of the "perfect foresight" or "rational expectations" version of the model in this lecture {doc}`monetarist theory of  price levels <cagan_ree>`, our model in the present lecture is an "adaptive expectations"  version of a model that Philip Cagan {cite}`Cagan`  used to study the monetary dynamics of hyperinflations.  
+Instead of the "perfect foresight" or "rational expectations" version of the model in this lecture {doc}`cagan_ree`, our model in the present lecture is an "adaptive expectations"  version of a model that Philip Cagan {cite}`Cagan`  used to study the monetary dynamics of hyperinflations.  


cut "this lecture"

jstac · 2024-03-21T23:45:49Z

lectures/cagan_adaptive.md

@@ -36,7 +36,7 @@ It combines these components:

 Our model stays quite close to Cagan's original specification.  

-As in the {doc}`present values <pv>` and {doc}`consumption smoothing<cons_smooth>` lectures, the only linear algebra operations that we'll be  using are matrix multiplication and matrix inversion.
+As in the {doc}`pv` and {doc}`cons_smooth` lectures, the only linear algebra operations that we'll be  using are matrix multiplication and matrix inversion.


cut "the" and "lectures" in the first part of the sentence.

jstac · 2024-03-21T23:46:10Z

lectures/cagan_adaptive.md

@@ -278,7 +278,7 @@ $$ (eq:notre)
 This outcome is typical in models in which adaptive expectations hypothesis like equation {eq}`eq:adaptexpn` appear as a
 component.  

-In this lecture {doc}`monetarist theory of the price level <cagan_ree>`, we studied a version of the model that replaces hypothesis {eq}`eq:adaptexpn` with
+In this lecture {doc}`cagan_ree`, we studied a version of the model that replaces hypothesis {eq}`eq:adaptexpn` with


cut "this lecture"

jstac · 2024-03-21T23:46:26Z

lectures/cagan_adaptive.md

    \mu_0  , & t = 0, \ldots, T_1 -1 \\
     \mu^* , & t \geq T_1
     \end{cases}
 $$

-Notice that  we studied exactly this experiment  in a rational expectations version of the model in this lecture {doc}`monetarist theory of the price level <cagan_ree>`.
+Notice that  we studied exactly this experiment  in a rational expectations version of the model in this lecture {doc}`cagan_ree`.


cut "this lecture"

jstac · 2024-03-21T23:46:38Z

lectures/cagan_adaptive.md


 # solve and plot
 π_seq_1, Eπ_seq_1, m_seq_1, p_seq_1 = solve_and_plot(md, μ_seq_1)
 ```

-We invite the reader to compare outcomes with those under rational expectations studied in another lecture {doc}`monetarist theory of  price levels <cagan_ree>`.
+We invite the reader to compare outcomes with those under rational expectations studied in another lecture {doc}`cagan_ree`.


cut "another lecture"

jstac · 2024-03-21T23:47:27Z

Many thanks @longye-tian . Much appreciated. @mmcky will finish this off.

@mmcky can you please make the final changes I requested, fix the conflicts and merge this? No rush.

mmcky · 2024-03-25T05:36:37Z

thanks @jstac the changes you suggest have been incorporated and the merge conflict resolved.

@longye-tian can you do a final check to make sure the merge conflict was resolved as you would expect. Please ping me once you have reviewed the diff.

jstac · 2024-03-25T08:47:52Z

Many thanks @longye-tian , and thanks @mmcky for the review. Merging.

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[cagan_adaptive]update title reference

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This pull request updates the title reference.

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mmcky added 2 commits March 25, 2024 16:31

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Merge branch 'main' into update_cagan_adaptive_code

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[cagan_adaptive] Update the code suggestions #400

[cagan_adaptive] Update the code suggestions #400

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		Like the model in this lecture {doc}`monetarist theory of price levels <cagan_ree>`, the model asserts that when a government persistently spends more than it collects in taxes and prints money to finance the shortfall, it puts upward pressure on the price level and generates persistent inflation.
		Like the model in this lecture {doc}`A monetarist theory of price levels <cagan_ree>`, the model asserts that when a government persistently spends more than it collects in taxes and prints money to finance the shortfall, it puts upward pressure on the price level and generates persistent inflation.


		Instead of the "perfect foresight" or "rational expectations" version of the model in this lecture {doc}`monetarist theory of price levels <cagan_ree>`, our model in the present lecture is an "adaptive expectations" version of a model that Philip Cagan {cite}`Cagan` used to study the monetary dynamics of hyperinflations.
		Instead of the "perfect foresight" or "rational expectations" version of the model in this lecture {doc}`A monetarist theory of price levels <cagan_ree>`, our model in the present lecture is an "adaptive expectations" version of a model that Philip Cagan {cite}`Cagan` used to study the monetary dynamics of hyperinflations.


		Like the model in this lecture {doc}`monetarist theory of price levels <cagan_ree>`, the model asserts that when a government persistently spends more than it collects in taxes and prints money to finance the shortfall, it puts upward pressure on the price level and generates persistent inflation.
		Like the model in this lecture {doc}`cagan_ree`, the model asserts that when a government persistently spends more than it collects in taxes and prints money to finance the shortfall, it puts upward pressure on the price level and generates persistent inflation.

[cagan_adaptive] Update the code suggestions #400

[cagan_adaptive] Update the code suggestions #400

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