ECONOMIC GROWTH
Spring 2013

Errata to lecture notes
(continually updated)
 

13/2    Lecture Note 1, p. 7, line 2: "demand elasticities" should read "demand elasticities with respect to income".

  8/2    Lecture Note 4, Appendix B, p. 10, after last line, add:    Special case: b(t) = 0. Solution:

19/2    Lecture Note 4, p. 8, line 1-2: "Since Hicks-neutrality is therefore empirically doubtful, the conventional TFP concept has no clear ..." should read "Since Hicks-neutrality at the aggregate level is therefore empirically refuted, the conventional TFP concept has generally no clear ...".
    After line 2, add: "The problem is that the conventional TFP concept confuses two impacts on the labor income share, namely that coming from capital deepening and that coming from technological change.

19/2    Lecture Note 4, p. 9, after second paragraph, add:    Warning 4: Standard growth accounting does not account properly for embodied technological change, cf. Acemoglu, p. 79, last nine lines.

25/2    Lecture Note 4, p. 9, line 3 from below:    After "... cf. Lecture Note 3)" add: and this is not fully taken into account in the national income and product accounts, one should ...

19/2    Lecture Note 5, p. 14, line 4:    "s* being" should read "s(k_tilde*) being".

26/2    Lecture Note 5, p. 14, line 3 from below:    "xit"    should read    "xi1".     

24/4    Lecture Note 5, a corrected version as of 23/4 2013 is here. The only essential change compared with the previous version as of 14/2 2013 is on p. 12 and pertains to equation (21), the new version of which is based on the added new equation (*) and the new text around this equation. Some minor typos on pp. 12-14 are also corrected.

  8/3    Groth, Chapter 10:
                p. 382, line 4:    "all three properties"    should read    "all four properties".
                p. 382, line 13:    "holds."    should read    "holds. The transversality condition ensures that also point 4 holds."

30/4    A new version (dated 29.04.2013) of Lecture Note 10 (with Fig. 1 and the text pp. 7-8 about the golden-rule capital intensity corrected) is here.

21/5    Lecture Note 11, p. 19, line 7 from below:    "In Lecture Note 13"    should read    "In Lecture Note 14".

3/5    Lecture Note 12, p. 4, n. 3:    "(cf. (??))"    should read    "(cf. (5))".

7/5    Lecture Note 13 (as of 05.05.2013), in addition to the new page 13, there is this correction to p. 11, line 14:    "the system is saddle-point stable"     should read    "the steady state is a saddle point".

12/5    Lecture Note14:
                p. 2, footnote 2:    "attention, the"    should read    "attention to the".
                p. 8, line 11:    "for feasible"    should read    "technically feasible".
                p. 10, line 4 from below:    "alpha*K^beta + beta*L^beta"    should read    "alpha1*K^beta + alpha2*L^beta".
                p. 13, line 8 from below:    "(??)"    should read    "(11)".
                p. 13, line 7, from below:    "- u = constant"    should read    "- u = constant < 0".