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Econ2.jhu.edu: Economics | Johns Hopkins University Online

The Department of Economics at Johns Hopkins University is a leader in economic theory and empirical analysis. We train undergraduate and graduate students for successful careers in the academy,...

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Johns Hopkins University : Department of Economics

The Ramsey/Cass-Koopmans (RCK) Model

problem is that we have not imposed anything corresponding to the intertemporal budget constraint. In this context, the IBC takes the form of a “transversality condition,” The intuitive purpose of ...