Apps, Patricia (contributor); Rees, Ray (contributor) - 2004 - [Elektronische Ressource]
Perfect Capital Market
There is a single market interest rate at which all households borrow and lend, and
which is … moment, the household solves its within period allocation problem
1
()
K
iht it iht iht iht ht
i
max u x y z uϕ … 3iK= ,.., the children, when present in the
household. Here x denotes a market consumption good, and z leisure.
16 …