RDP 2006-06: Ageing, Retirement and Savings: A General Equilibrium Analysis Equation

\begin{array}{l} {Q^{'}}_{t} \equiv \sum_{s = 1}^{T^{'}} \frac{e_{s} w_{t + s - 1}}{R_{t}^{t + s - 1}} \\ {H^{'}}_{t} \equiv \sum_{s = 1}^{T^{'}} v {(s, T)}^{1 / ρ} {(e_{s} w_{t + s - 1})}^{\frac{ρ - 1}{ρ}} {(β^{s - 1})}^{\frac{1}{ρ}} {(R_{t}^{t + s - 1})}^{\frac{1 - ρ}{ρ}} + \sum_{s = 1}^{T} {(β^{s - 1})}^{\frac{1}{ρ}} {(R_{t}^{t + s - 1})}^{\frac{1 - ρ}{ρ}} \end{array}