Rault, Christophe; Alfonso, Antonio - William Davidson Institute, University of Michigan - 2007
intertemporal
budget constraint:
5
For the validation of theoretical results … games and the fulfilment of the intertemporal
budget constraint. Faced with this transversality condition, the government … auxiliary variable 1
)(
−
−+=
tttt
BrrGE
, and the additional definition
1−
+=
tttt
BrGGG
, the intertemporal budget constraint …