For the OLG model, you are given the utility function of the representative young as: U(.) = ln c y t + ln co t+1

For the OLG model, you are given the utility function of the representative young as:

U(.) = ln c y t +δ ln co t+1 For a given population and given endowments of the commodity in the two periods, derive the demand functions for the commodity, the price level and the rate of return on nominal balances in the stationary state.