Skip to content

Commit

Permalink
remove the commented text
Browse files Browse the repository at this point in the history
  • Loading branch information
HumphreyYang committed Jan 31, 2025
1 parent ca9a267 commit 2b3b71e
Showing 1 changed file with 1 addition and 12 deletions.
13 changes: 1 addition & 12 deletions lectures/tax_smooth.md
Original file line number Diff line number Diff line change
Expand Up @@ -656,15 +656,4 @@ plt.plot(ξ1_arr, cost_grad)
plt.ylabel('derivative of cost')
plt.xlabel(r'$\phi$')
plt.show()
```
<!-- ## Wrapping up the consumption-smoothing model
The consumption-smoothing model of Milton Friedman {cite}`Friedman1956` and Robert Hall {cite}`Hall1978`) is a cornerstone of modern macro that has important ramifications for the size of the Keynesian "fiscal policy multiplier" described briefly in
QuantEcon lecture {doc}`geometric series <geom_series>`.
In particular, it **lowers** the government expenditure multiplier relative to one implied by
the original Keynesian consumption function presented in {doc}`geometric series <geom_series>`.
Friedman's work opened the door to an enlightening literature on the aggregate consumption function and associated government expenditure multipliers that
remains active today. -->
```

0 comments on commit 2b3b71e

Please sign in to comment.