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Barro's equation 12.6 states the household's multiyear budget constraint including taxes and transfers: EL5+ 1 E P 1 1+rP C B 01+ 2 +...(1+r)(D+K0)+ Lg+...+(V1T1)+

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Barro's equation 12.6 states the household's multiyear budget constraint including taxes and transfers: EL5+ 1 E P 1 1+rP C B 01+ 2 +...(1+r)(D+K0)+ Lg+...+(V1T1)+ 1+?" P 1) Derive the multiyear budget constraint above (perhaps being slightly more clear than Barre about what's in the ellipses!) from the period budget constraint below, noting the relevant

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