Exact(2)
The expression in E τs p highlights the fact that since returns to savings also become location-specific through differences in prices, their return is, just like wages and remittances, also random ex ante.
First, it also involves returns to savings, which are here convex ∂ 2 E c 2 ∂ s 2 > 0. While this term was equal to zero in the basic setting since returns to savings were certain and linear, its presence here reinforces the case for corner solutions.
Similar(58)
(Stafford Smith has since returned to London, where he now runs Reprieve).
Mr Hamrdla has since returned to America.
They have since returned to the United States.
(He has since returned to acting).
He has since returned to the team.
(He has since returned to the show).
She has since returned to the United States.
The men have since returned to Australia.
She has since returned to Slovenia.
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