Closed
Description
Suggestions by @longye-tian.
Code
- Remove the grid in the plot
- Use
solveto calculate the inverse
Content
- Change bold non-definition words to italics (note: real balances are a definition).
- I missed one comment on the structure of the overview (@longye-tian please feel free to fill in your comment)
- Empirically testing the inflation rate Laffer curve.
-
$m_{t+1}^d/p_t =\gamma_1 - \gamma_2 \frac{p_{t+1}}{p_t}, \quad t \geq 0$ ->$\frac{m_{t+1}^d}{p_t} =\gamma_1 - \gamma_2 \frac{p_{t+1}}{p_t}, \quad t \geq 0$ where$\gamma_1$ and$\gamma_2$ are positive parameters. - Remove the repetition of definition of
$b_t$ and$R_{t-1}$ - Remove the
$()$ in 26.6 - Check capitalization for titles
- gross rates of return on currency -> gross rates of return on currency and real balance
- Remove - if steady-state is a noun.
-
$\bar R < 1$ ->$\bar R \le 1$ - $\bar R \in [\frac{\gamma2}{\gamma1}, 1]
\equiv [\underline R, \overline R]$ ->$\bar R \in [\frac{\gamma_2}{\gamma_1}, 1] \equiv [\underline R, \overline R]$ -
$R_t \in \bar R = [\underline R, \overline R], \quad t \geq 0$ ->$R_t \in [\underline R, \overline R], \quad t \geq 0$ - two values of
$R$ -> Two steady-state values of$R$ -
$R_l$ ->$R_\ell$ - An equilibrium sequences are not unique -> equilibrium sequences are not unique
- Remove the repetitive
$$\begin{aligned}
b_t & = b_{t-1} R_{t-1} + g \cr
R_t^{-1} & = \frac{\gamma_1}{\gamma_2} - \gamma_2^{-1} b_t
\end{aligned}$$
- Add a sentence for transition after "... indicates the presence of a Laffer curve in the inflation tax rate."
- "code plot outcomes" -> "code plot to outcomes"
- Set $ \Lambda= \begin{bmatrix} {R_l}^{-1} & 0 \cr
0 & {R_u}^{-1} \end{bmatrix}$ - $Q y_0 = y^_0 = \begin{bmatrix} y^{1,0} \cr 0 \end{bmatrix}$ -> $Q^{-1} y_0 = y^_0 = \begin{bmatrix} y^{1,0} \cr 0 \end{bmatrix}$.