c' c+ 1 +r = we, (9.11) we(1 + r) C = (9.13) 1 +r + a awe(1 + r) c'= (9.14) 1 +r+ a
c' c+ 1 +r = we, (9.11) we(1 + r) C = (9.13) 1 +r + a awe(1 + r) c'= (9.14) 1 +r+ a Use the intertemporal budget constraint, as expressed in equ. (9.11), to show how equations (9.13) and (9.14) are derived
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