Recent content by arfie

Sorry if it's not that clear. The reference is here: http://www.nber.org/papers/w17251.pdf My problem is in page 14, equation (20). I don't know how to get it.

Thanks for the reply. I mean "how to get first derivative of L w.r.t r(y,a) which is dL/dr(y,a)?"

Hi everyone! I really need help for this. I have to read a paper in economics where some parts I don't understand. Suppose: S \equiv [\alpha,\bar{\alpha}]x[y,\bar{y}] V^e(p_j,g_j,y+r(r\alpha)-T_j,\alpha)\equiv \underset{h}{\text{max}}U(y+r(r,\alpha)-T_j,p_jh,h,g_j;\alpha) And...