In May 2010, the size of Greece's budget deficit increased its probability of default and triggered a crisis across the Eurozone. To decrease the budget deficits the Greek government proposed many measures. A few of them involved decreasing pension and/or benefits payments to retirees Use the life-cycle hypothesis to evaluate the impact of an unexpected decrease in your income after you retire.

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F Modigliani extent the intertemporal choice model and develop a net mod... View the full answer