Production saving model
The simplest way is to turn it to an unconstrained optimization problem
that is T∑
t= 0βtU(f(kt) kt+ 1 )!max
greg delong
(Greg DeLong)
#1
The simplest way is to turn it to an unconstrained optimization problem
that is Tt= 0βtU(f(kt) kt+ 1 )!max