Explain the motives for leaving bequests.

May 3, 2011 ... Because of the government's intertemporal budget constraint, Gt will have to be compensated by taxes, either now or in the future, and the ... present value of domestic production. The intertemporal budget constraint delimits the feasible choices of the economy. To describe the circumstances in which ... • Intertemporal budget constraint. – implications of rolling over the period-by-period constraint. • Deficits and debt sustainability. – how much government ... Apr 18, 2025 ... By applying an intertemporal constraint, the family can allocate funds towards immediate consumption (childcare, living expenses) while ... The theoretical model of the intertemporal budget constraint suggests that when the rate of return rises, the quantity of saving may rise, fall, or remain the ... ... intertemporal budget constraint, has long been a concern. Download to read ... and C.E. Walsh, 1988, Common trends, the government budget constraint ... • 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:. Jul 25, 2007 ... ... constraint' and ... The author does so by analysing separately the intertemporal budget constraints of the central bank and the Treasury. ... (intertemporal and otherwise) budget constraints. Under weak assumptions, we prove this distorts several aspects of their consumption and production plans ... Mar 5, 2021 ... This budget constraint equation represents an individual planning her consumption over two periods (before retirement o, after retirement 1).