Question
In an overlapping generations model economy, there is an increase in reserve rate. Show graphically and explain how this change affects a person's budget constraint.
In an overlapping generations model economy, there is an increase in reserve rate. Show graphically and explain how this change affects a person's budget constraint. Is there a change in a person's welfare?
answer briefly.
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Introductory Econometrics A Modern Approach
Authors: Jeffrey M. Wooldridge
4th edition
978-0324581621, 324581629, 324660545, 978-0324660548
