Abstract
To summarize, we report the final results of the simulations, expressed by material welfare obtained by the set of consumers–workers. This measure is identified with total undiscounted consumption, CT120, enjoyed by all persons along the time horizon, n = 120. As we mentioned in the preface, considering no discount implies that all generations are treated on a par, as Ramsey long ago advocated.
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© 2008 Springer-Verlag Berlin Heidelberg
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(2008). Material Welfare Comparisons. In: Experimenting with Dynamic Macromodels. Lecture Notes in Economics and Mathematical Systems, vol 608. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-77397-9_13
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DOI: https://doi.org/10.1007/978-3-540-77397-9_13
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-77396-2
Online ISBN: 978-3-540-77397-9
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