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Life cycle wealth/YI (30-49)
life cycle wealth (fgure 1.10) based on NTA estimates for Germany in 2003 (Kluge, 2011).
Aggregate life cycle wealth at each age is plotted in the right panel of the fgure.
Te life cycle wealth is calculated as the present value of consumption less labour income.
An important feature of golden rule growth is that the life cycle wealth of the newborn
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