Explain how decisions about saving, investment in human capital, and research and development today can affect the rate of technological progress and long-run economic growth.

... intertemporal budget constraint of the consolidated government sector (central bank and governments). This is the consequence of the constraint being a ... • Sequential budget constraint for all t ∈ T: ct + st ≤ et + Rtst−1. (1) where s−1 ≡ ¯s−1. • Incomes, returns, and initial capital determine budget set:. intertemporal government constraint will be fulfilled because the intertemporal budget constraint requires the discounted debt to converge to zero.7. One ... Nov 24, 2024 ... My hot take is that this isn't a trivial intertemporal budget constraint. It's an optimal stopping problem: cakes have evolving texture and ... Nov 9, 2017 ... Finally, the paper claims that fiscal policies that aim at being consistent with an intertemporal budget constraint are likely to destabilize ... Supervision 1: The Intertemporal Budget Constraint. An infinitely-lived consumer faces a series of period budget constraints: Y1 + (1 + r)B0 = C1 + B1,. Y2 + ... Aug 11, 2003 ... Choosing an investment plan is equivalent to choosing a sequence of capital installations {kt+1}. Intertemporal budget constraint. The sequence ... Sep 3, 2019 ... ... budget constraint is always binding ⇒ the consumer spends all his life-time income. 6 / 37. Page 7. Budget constraint. • To plot the budget ... Dec 7, 2015 ... Another central concept is the intertemporal budget constraint, according to which the present value of current and future government ... "Are stationarity and cointegration restrictions really necessary for the intertemporal budget constraint?," Journal of Monetary Economics, Elsevier, vol. 54(7) ...