How does initial wealth affect an individual's intertemporal consumption possibilities?

Apr 28, 2024 ... I talk about how to derive an Intertemporal Budget Constraint from a Flow Budget Constraint. Timestamps: 0:00 - Review of Flow Budget Constraint ... It does not address budget constraints: an impulse to demand from government spending comes out of thin air, rather than being offset by taxation or a cut. 1 ... Dec 30, 1991 ... ... intertemporal budget constraints, but nevertheless satisfy the nation's budget constraint. In most cases this has occurred because changes ... The intertemporal budget constraint proves to be satisfied if either the debt series or the revenue and with-interest spending series are integrated of ... to an intertemporal budget constraint. Whatever solution approach one employs — the calculus of variations, optimal control theory or dynamic programming ... Aug 13, 2018 ... There we "compact" the constraint into one, so here they are outside the sum and the intertemporal discounting, with the understanding that the ... Same as with Labor Supply, maximizing utility in the context of intertemporal choices is IDEN-. TICAL to what we've been doing, just with a different budget ... "Are stationarity and cointegration restrictions really necessary for the intertemporal budget constraint?," Journal of Monetary Economics, Elsevier, vol. 54(7) ... • Intertemporal budget constraint. – implications of rolling over the period-by-period constraint. • Deficits and debt sustainability. – how much government ... The consumer's utility maximization is constrained by several budget equations. Primary is the individual's intertemporal budget constraint,. 3 This ...