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1. Consider the OLG model with the following specifications: . Let the utility of household i of cohort t be ulc(t), c(t+1)) = Vci(t)+Byci(t+1) where

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1. Consider the OLG model with the following specifications: . Let the utility of household i of cohort t be ulc(t), c(t+1)) = Vci(t)+Byci(t+1) where 0

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