Mertens, Jean-François (contributor); … - 2006
some coherence,
and to ensure that each one stays within its area of competence, is to
assume that the others do their job … to
(streams of) consumption, and constant returns to scale in production
— are there to allow for a balanced growth path … who is of age s at time t, so that x = t−s.
15We index consumption streams by age, in [0,Tτ], so all individuals of the …