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The State Variables and Disturbances of Debt Incidence Analysis
A Review of the Literature
A Consumption Model
8 other sections not shown
additional amount analysis assume assumption average overlife assets benefit bonds program born borrowing budget line burden calendar period capital stock chapter community assets consider constant constraint consumption of heirs current period debt incidence derive determined differential discounted earlier economy effects equal equilibrium example expenditure external family income figure finance finite-term framework function Further future future periods illusion imposes increase individual's individuals infinite-term bonds inheritance initial situation interest rate internal introduced knowledge latter leaves less lifetime consumption lifetime income lifetime utility lives loan LST program marginal propensity measure mechanisms members of present output overlife pattern payments perfect positive potential consumption present and future production program illusion propensity to consume public debt rate of interest received reduces respectively result retired rise savings subsidy substitution sumption tax rates tion unchanged unit unity variables wage welfare zero