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While this difference may seem quite insignificant, it actually has some pretty important consequences in terms of conservation laws, which are discussed more later in this article. We believe the Federal Reserve most effectively serves the public by building a more diverse and inclusive economy. Grandmont: On Endogenous Competitive Business Cycles.
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There is an alternative representation of static technological opportunities that is more congenial to dynamic analysis, that is, the representation of the technology by its Hamiltonian function.
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