Inter-Temporal Rate of Substitution

I know: it sounds like something out of a science fiction movie. Sometimes it looks that way. However, once itโ€™s explained well, at least it should be easy to follow and understand.ย  Iโ€™ll do my best to explain it well. Also, Iโ€™ll abbreviate inter-temporal rate of substitution as ITRS; itโ€™ll save me a lot of […]

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