RDP 2006-06: Ageing, Retirement and Savings: A General Equilibrium Analysis
Equation (1)
max
∑
s
=
1
T
β
s
−
1
(
1
1
−
ρ
c
s
,
t
+
s
−
1
1
−
ρ
+
v
(
s
,
T
)
1
1
−
ρ
l
s
,
t
+
s
−
1
1
−
ρ
)
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