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Chapter 3 The basic OLG model: Diamond

Chapter 3 The basic OLG model: Diamond

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Nobel Prize laureate Peter A. Diamond (1940-). Among the strengths of the model are: The life-cycle aspect of human behavior is taken into account. Although the economy is in–nitely-lived, the individual agents are not. During lifetime one™s educational level, working capacity, income, and needs change and

  Noble, Laureate

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