ECONOMIC GROWTH
Spring 2014

Errata to lecture notes
(continually updated)
 

 4/3     Ch. 2, p. 38, line 1 from below: replace QY by qY.
        1/4    More to Ch.2: p. 37, line 3 from below:    "higher At, Bt, or both"    should be    "higher at, bt, or both".   

           Ch. 4, p. 61, middle: "CRS production function (5.2)"    should read    "CRS production function (4.6)".
               p. 62, line 1: replace (5.2) by (4.6).
               p. 63, line 8: replace (5.2) by (4.6).

           Ch. 5, p. 74, line 7: "absence of externalities"    should read    "absence of externalities and increasing returns to scale".

24/3    Ch. 8, p. 127, headline of the appendix:    "certainty loss"    should read    "certainty-equivalent loss".
           Ch. 9, p. 136, line 7:    in the formula starting with w the factor h before the third equality sign should be Ah.
                p. 138:    line 9-17 should be deleted.
                p. 144, eq. (9.19):    the lower limit of integration should not be S but v + S.
                p. 152, line 9:    "and thus in better harmony"    should read    "and is thus in better harmony".
                    line 11:    "h = a*e^eta*S"    should read    "h = a*e^eta*lnS". 

 1/4    Ch. 9, p. 145, line 9 from below:    "no utility from leisure"    should read    "no utility from leisure and no bequest motive".
                        -    line 1 from below:    "= HW(S)"    should read    "= HW(v, S)".
                     p. 150, line 6:    "spirit of assumption 7"    should read    "spirit of assumption 5".

 7/4    Ch. 10, p. 168, line 12 from below:    "in chapters 12 and 16"    should read    "in chapters 13 and 16".

28/4   Ch. 13, p. 205, line 14:    "Even within"    should read    "Within".
                p. 217, line 10 from below:    "(??)"    should be    "(13.14)".

29/4    Ch. 14, p. 245-46:    in (14.12), (14.13), and (14.14) the variables Pi, pi, xi, w, Y, and N should be indexed by a t.
                    p. 246, line 4:    delete "14.17n".
                    p. 246, line 5: "in (14.12)    should read    "in (14.12) is".
                    p. 246, in (14.16) as well as four lines lower:    "1"    should be    "psi".
                    p. 247, line 2:    delete the factor xi/pi before Elxipi.
                    p. 253, line 7:    "which (without"    should read    "(that have no". 

 2/5    Ch. 15, p. 265: in (A1) in line 2 from below delete theta.   

 6/5    Ch. 14, p. 251, n. 6:    "drives share prices down and the rate of return, rt, up"    should read    "drives the interest rate, rt, up".
                       p. 255, line 5:    "Hence, the so far unknown"    should read    "Hence, the until now unknown".

          Ch. 15, p. 263-264:    every time you see a N_dot_t on these two pages, add a "+" as a top index on the N_dot_t. This is meant to indicate that what is meant is the conditional capital gain, that is, the increase per time unit in the market value of the monopoly firm at time t, conditional on its monopoly position remaining in place also in the next moment.

27/5    Ch. 14, p. 250, line 4:    "the fifth"    should be    "the fourth".

  2/6    Ch. 9, p. 141, line 9: "indeed integrating (9.9)"    should be "indeed integrating (9.14)".