Discuss different approaches to dealing with long-run uncertainty in economic models.

More recently, several different researchers have devised and implemented tests of the intertemporal budget constraint in a variety of different contexts. Jun 22, 2024 ... This paper extends previous tests of intertemporal budget balance and present value relationships by expanding the set of allowable deficit processes. • Intertemporal budget constraint. – implications of rolling over the period-by-period constraint. • Deficits and debt sustainability. – how much government ... Dec 30, 1991 ... ... intertemporal budget constraints, but nevertheless satisfy the nation's budget constraint. In most cases this has occurred because changes ... Aug 11, 2003 ... Choosing an investment plan is equivalent to choosing a sequence of capital installations {kt+1}. Intertemporal budget constraint. The sequence ... Nov 26, 2024 ... The government intertemporal budget constraint is a stock-flow relationship determing the debt dynamics. Consider the general case in which ... intertemporal government constraint will be fulfilled because the intertemporal budget constraint requires the discounted debt to converge to zero.7. One ... The intertemporal budget constraint is a concept in behavioral economics that describes the trade-offs individuals face when making consumption and savings ... Dec 7, 2015 ... Another central concept is the intertemporal budget constraint, according to which the present value of current and future government ... Nov 2, 2020 ... ... intertemporal budget constraint. The fiscal options open to the State can only be understood if we have a clear understanding of the IBC of ...