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## Overview
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- The dynamics of the OLG model are quite similar to those of the Solow-Swan
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- growth model.
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+ The dynamics of the OLG model are quite similar to those of the [ Solow-Swan
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+ growth model] ( https://intro.quantecon.org/solow.html ) .
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At the same time, the OLG model adds an important new feature: the choice of
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how much to save is endogenous.
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We call an agent
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- "young" during the first period of their lives and
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- - "old" during the second period of their lives
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+ - "old" during the second period of their lives.
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Young agents work, supplying labor and earning labor income.
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### Firm's problem
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- For each integer $t \geq 0$, output $y_t$ in period $t$ is given by
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- the ** Cobb-Douglas production function**
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+ For each integer $t \geq 0$, output $y_t$ in period $t$ is given by the
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+ ** [ Cobb-Douglas production function] ( https://en.wikipedia.org/wiki/Cobb%E2%80%93Douglas_production_function ) **
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``` {math}
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:label: cobb_douglas
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```
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- To solve for $k_ {t+1}$ given $k_t$ we use Newton's method.
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+ To solve for $k_ {t+1}$ given $k_t$ we use [ Newton's method] ( https://python.quantecon.org/newton_method.html ) .
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Let
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