What are the implications of depleting natural capital for long-run economic well-being?

representative consumer has an intertemporal budget constraint where money can be borrowed or saved. – There is a time consistent solution that gives ... combined with the intertemporal budget constraint, determine the optimal allocation of (c1,t,h1,t,c2,t+1,h2,t+1). 1.1.2 Tax on Capital Mimics Age-Dependent ... how is the deficit financed? • bond sales to the private sector or the central bank (money creation). • government inter-temporal ... The intertemporal budget constraint refers to the trade-off between current and future consumption that individuals face, given their current income and future ... Nov 6, 2016 ... Share your videos with friends, family, and the world. Oct 26, 2017 ... the government's present value budget constraint (PVBC) holds. • the credit market clears: Sp = B. That is, private savings = quantity of debt ... The consumer's utility maximization is constrained by several budget equations. Primary is the individual's intertemporal budget constraint,. 3 This ... Sep 28, 2020 ... The inter-temporal budget constraints model was used to examine the various fiscal reaction functions, debt dynamics and fiscal policy ... Mar 2, 2017 ... • Intertemporal choice. • Three periods, = 0, = 1, and = 2 ... • Anticipated budget constraint at = 1: 1. +. 1. 1 +. 2 ... "Are stationarity and cointegration restrictions really necessary for the intertemporal budget constraint?," Journal of Monetary Economics, Elsevier, vol. 54(7) ...