The Overlapping Generations Model of Diamond
In this video, I present the basic version of the overlapping generations (OLG) model of Diamond (1965) and provide a graphical analysis of its dynamics. The slides are based on chapter 5 of Prettner and Bloom (2020). Automation and Its Macroeconomic Consequences. Theory, Evidence, and Social Impacts. For the other central macroeconomic model (the Ramsey-Cass-Koopmans model), please see • The Ramsey-Cass-Koopmans Model Part 1: Der... • The Ramsey-Cass-Koopmans Model Part 2: Ana... If you are interested in modelling poverty traps in an overlapping generations model, please see • The Overlapping Generations Model With a P... For the effects of automation in an overlapping generations model, please see • The Overlapping Generations Model With Aut... If you are interested in macroeconomics, please see the following lecture • Advanced Macroeconomics

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