What are the implications of hyperbolic discounting for long-term planning?

Consumption and Saving Model 1 - Intertemporal Budget Constraint. Video thumbnail for Consumption and Saving Model 1 - Intertemporal Budget Constraint. 0:00. Sep 13, 2018 ... price level in line with the intertemporal budget constraint (in real terms). In equilibrium, monetary and fiscal policies jointly ensure ... ... intertemporal budget constraint, has long been a concern. Download to read ... and C.E. Walsh, 1988, Common trends, the government budget constraint ... present value of domestic production. The intertemporal budget constraint delimits the feasible choices of the economy. To describe the circumstances in which ... 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 ... Write out the intertemporal budget constraint. 2. Solve for an equation linking her preferred C0 and C1. 3. Use the result from 2 and the budget constraint ... ... intertemporal budget constraint. It is argued that unit root or cointegration tests have low power in rejection unit root from near unit root alternatives ... The intertemporal budget constraint refers to the trade-off between current and future consumption that individuals face, given their current income and future ... to an intertemporal budget constraint. Whatever solution approach one employs — the calculus of variations, optimal control theory or dynamic programming ...