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RDP 9213: The Impact of Financial Intermediaries on Resource Allocation and Economic Growth
Equation (3)
∫
0
∞
U
(
c
)
e
−
p
t
d
t
w
h
e
r
e
U
(
c
)
=
C
1
−
σ
−
1
1
−
σ
,
σ
∈
[
0
,
∞
)
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