Unformatted text preview: u (1 − l yt , c ot +1 ) = p 1 − l yt + √ c ot +1 , where l t is the length of time he works at young (so 1 − l yt the length of time he rests). Solve the optimal l yt for given w t and r t +1 . 1...
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This homework help was uploaded on 12/13/2007 for the course ECON 3140 taught by Professor Mbiekop during the Fall '07 term at Cornell.
 Fall '07
 MBIEKOP
 Macroeconomics

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