Overview of themes
-orderconditionsof the householdoptimizationproblem,we derivethe following demandfunctions: (2a)A α Y (pa/py)σy (2b)C (1 α) Y (pc/py)σy (2c)Ci αi C (pci/pc) σc i l,k (2d)Cj αj Cl (pcj/pcl) σl i f,b Expressions(2a →