RDP 2006-06: Ageing, Retirement and Savings: A General Equilibrium Analysis Equation

\begin{array}{l} \begin{matrix} c_{s, t + s - 1} = {(β^{s - 1} R_{t}^{t + s - 1})}^{1 / ρ} & c_{1, t} & s = 1, 2, \dots, T \end{matrix} \\ l_{s, t + s - 1} = {\begin{matrix} {(\frac{v (s, T)}{e_{s} w_{t + s - 1}})}^{1 / ρ} & c_{s, t + s - 1} & s = 1, 2, \dots, T^{'} \\ 1 & s = T^{'} + 1, \dots, T \end{matrix} \end{array}