Re: ISI 2017 key

Posted by Asd1995 on May 29, 2017; 10:24am
URL: http://discussion-forum.276.s1.nabble.com/ISI-2017-key-tp7604137p7604811.html

Yes.
As a particular case take beta to be minus one. Hence I'd want to consume everything in period one and leave nothing for period two. But now if I'm taxed in period one and giveb money back in two, the cash has no use for me,so my utility will always decrease with taxes.