What is the role of investment in research and development in driving technological progress?

Jul 25, 2007 ... ... constraint' and ... The author does so by analysing separately the intertemporal budget constraints of the central bank and the Treasury. Bt ≥ −. ¯. B or Ct ≤ Wt. Intertemporal budget constraints. • Relate the borrowing constraint to ability to pay. • A complete-markets notion. • Firm: market ... ▷ Inflation as a tax. ▷ Seigniorage. ▷ Intertemporal budget constraint. ▷ Intertemporal discount. ▷ Public Deficit/surplus. Sep 6, 2022 ... This expression represents the intertemporal budget constraint. It says that the present discounted value of the endowment plus the initial ... 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 ... 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 ... The intertemporal budget constraint is a concept in behavioral economics that describes the trade-offs individuals face when making consumption and savings ... If the consumer faces an intertemporal budget constraint. C1 + β C2 = constant, where β = 1/(1 + interest rate) is the period-1 equivalent of a dollar in ... Aug 31, 2020 ... In its standard form, the intertemporal budget constraint requires the present value of a government's future primary cash surpluses to be ... to an inter-temporal budget constraint, stock of assets, and limits on borrowing. If, at an instant of time, returns to capital are relatively high, the ...