SYNC: update opt_tax_recur.md from lecture-python-advanced.myst#14
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Brings in upstream commit 8c84d8da (PR #312, "Update Tom's edits to AMSS and Calvo Lectures"): Tom's edits to the optimal-taxation (Lucas-Stokey) lecture. No intersphinx prefixes to preserve. Co-Authored-By: Claude Opus 4.7 (1M context) <noreply@anthropic.com>
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Pull request overview
Syncs lectures/opt_tax_recur.md with its upstream source in lecture-python-advanced.myst (commit 8c84d8da), incorporating Tom's edits that reframe the lecture as a special case of Lucas-Stokey and clarify wording around inherited debt, the stochastic discount factor, and one-period government debts. No code under _static/lecture_specific/opt_tax_recur/ is touched, and no intersphinx prefixes needed preserving.
Changes:
- Rewrites the Overview to describe the lecture as a special case of Lucas-Stokey, with an expanded feature list and a new
{note}about the inherited time-0 obligationb_0(s_0). - Converts the parenthetical stochastic-discount-factor remark into a
{note}and adds the one-period multiplicative increment. - Tightens debt wording in several spots:
b_0is now described as "initial government debt payment due at time 0", and the recursive section refers to "marginal utility scaled one-period government debts".
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| ## Overview | ||
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| This lecture describes a celebrated model of optimal fiscal policy by Robert E. | ||
| This lecture describes special case of a celebrated model of optimal fiscal policy by Robert E. |
| * a Ramsey planner who at time $t=0$ chooses a plan for taxes and | ||
| trades of [Arrow securities](https://en.wikipedia.org/wiki/Arrow_security) for all $t \geq 0$ | ||
| * a representative household that likes both consumption and leisure | ||
| * an exogenous history-contingent sequence of government expenditures that a goverment must finance with revenues from a sequence of history-dependent flat rate taxes |
Pulls in un_insure.md execution fix (#17) so CI passes.
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Syncs
lectures/opt_tax_recur.mdwith its primary sourcelecture-python-advanced.myst(see #7 for the source mapping).The lecture-dp copy was last at the initial-setup version (2026-01-14). Upstream commit
8c84d8da(PR QuantEcon/lecture-python-advanced.myst#312, "Update Tom's edits to AMSS and Calvo Lectures", 2026-02-23) reworked it: Tom's edits to the optimal-taxation (Lucas-Stokey) lecture.After this sync the file is byte-identical to the source. No intersphinx prefixes needed preserving.
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