Barnett, Richard C. (contributor); … - 2007
because the cycle
CAB always stays in the economically valid range! A major contribution of this paper is to show
that … extra unit of cash goes a long way. The agent’s
consumption when old is close to the minimum δ, so the marginal gain in … offer curve) that stays asymptotically in
[δ,w−θ].
In Figure 2b, the steady state m
∗
is on the downward sloping portion of …