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Notes on the OLG Model
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日期:2025-06-04
E¢ cience of RCE An interesting property of the OLG model is that equilibria may not be Pareto optimal. Example For example, suppose (e 1,e 2) = (1,0) and u(c 1t,c 2t+1) = c 1t +c 2t+1, for all t 1 (this example may seem special because the indi⁄erence cu...看更多