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1 - 6 van 6 voor actuarial notes
appendix derivations dsge model pdf
... period zero. furthermore, ptna+t,t is nominal holdings of actuarial notes and ptwt is the nominal wage. the tax on nominal ... actuarial notes compensates for the probability of death in this manner, it is always better for the household to let the actuarial insurance ... see any inflation terms here. actuarial firms discount future real profits by expected real return on actuarial notes 1+rt-1. the reason ...
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memo227.pdf
... of actuarial notes; na+v,v are the real value of actuarial notes held by a household aged a in period zero that are taken into the following period, aggregate stock of all actuarial note ... lump-sum tax, ls,t. households choose consumption, labour, real money balances and purchases of actuarial notes. actuarial notes represent all non-monetary saving for household in the economy. this follows from a ...
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memo228.pdf
... , the utilization cost also doubles, provided that the utilization rate remains unchanged. actuarial firms actuarial firms own the capital. they benefit from renting the serviced capital to the ... arbitrage condition for actuarial firms, the expected profit of investing in shares of the foreign investment firms equals the expected profit of making capital investments. buying actuarial notes by the ...
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measuring lifetime redistribution dutch occupational pensions pdf
... originate from differences in life expectancy, income growth and labour force participation growth. the actuarial value of future pension benefits is increasing in life expectancy since in expectation people ... .9) intereducational transfer gender-specific uniform cr (a.9) - individual uniform cr (a.5) notes cr contribution rate. numbers in brackets refer to the corresponding equation. this case there ...
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memo241.pdf
... ). another characteristic of a pension scheme is its degree of actuarial fairness, see lindbeck and persson (2003). that aspect plays no ... an unconditional transfer. this is primarily relevant in terms of the actuarial fairness of the scheme. 4 well. valuation risk occurs during ... -2008 to fall by about 0.5%. 18 cochrane (2008) notes that the problem was already clearly identified by shiller (1982) ...
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Microsoft Word - discussion156.doc
... do exist, but are only recently available. economists therefore prefer treasury bills (t-bills) or notes with a short time to maturity, as they are less sensitive to inflation and interest ... .a. and e.d. orr (2003). equity risk premium expectations great and small. north american actuarial journal, dimson, e., p. marsh and m. staunton (2002). triumph of the optimists 101 years ...
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