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1 - 10 van 55 voor aggregate wealth
appendix derivations dsge model pdf
... see that the aggregate labour supply, given (2.15), (2.28), and (2.32), is lt wt ht, and aggregate money demand, ... wealth, ht, we must return to (2.11) and (2.12). from these two expressions we can see that aggregate wealth can be defined as ht hwt +fht-1, where aggregate human wealth ... 1-i,j)divai j . 12 and aggregate financial wealth is defined from individual financial wealth in (2.4) as fht-1 1 ...
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discounting investments mitigation and adaptation pdf
... in the economy may be related to both shocks in aggregate wealth and shocks in global average temperature. therefore, both aggregate wealth and global average temperature will carry a risk premium reflecting ... investments should be discounted at a rate that reflects their non-diversifiable risk in aggregate wealth. in this paper, we have generalized this insight to include non-diversifiable risk with ...
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memo161.pdf
... 1.1.4 taxation of portfolio income 6 1.1.5 aggregate consumption, wealth and savings (in a given period) 7 1.2 firms ... e -1 will be derived below in equation aggregate consumption, wealth and savings (in a given period) aggregate consumption (per capita young) grows at rate ... (1+gn)t cy (t)+ co(t) (1+gn)t (1.21) aggregate wealth is less straightforward, as it is not uniform across generations. observe ...
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dp170-technische-bijlage.pdf
... are defined as the sum of property taxes and taxes on net wealth of individuals. 5) other taxes, which is a residual item ... is used (the denominator of the second part) and the realized aggregate result (the numerator). this ratio is uniformly used across all ... the result by a uniform factor that results in the realized aggregate of primary income for each year. this sequence of calculations is ...
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analyzing labour supply elderly people life cycle approach pdf
... groups distinghuished in the model, we obtain an indication of the size of the aggregate economic impact. we find that acuarially unfair early retirement schemes substantially reduce the participation ... retirement typically treat accumulated wealth as given (e.g., rust and phelan, 1997; stock and wise, 1990). moreover, most studies estimate their model on the basis of an aggregate employment rate ...
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Athena
... the life-cycle theory of consumption. they consume a fraction of their total wealth, which consists of non-human wealth a and the discounted value of their expected income h. households ... 6 long term elasticities for the industries of the rest category in relation to the aggregate share 2001 expenditure elasticity price elasticity agriculture food and drinks chemicals metals excluding motorcars ...
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Microsoft Word - ageing_.doc
... to the net benefit of all generations. sustainability concerns the relative distribution of government wealth over generations. future generations are well off in the sustainable path, but current generations ... is appropriate because the size of future revenues and expenditures is uncertain and related to aggregate economic risk. moreover, by using a return equal to discount rate one avoids that ...
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Microsoft Word - bijz90.doc
... (including loan repayments and purchases of stocks, bonds and non-residential real estate) from aggregate incomings (including loan receipts and proceeds from the sale of assets), both calculated on ... is the most complicated consumption tax, because it requires the registration and monitoring of wealth. political robustness politically, the vat is the most robust consumption tax, primarily because ...
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Microsoft Word - discussion135.doc
... entitled to ui benefits and do not have any partner income or (substantial) private wealth, they are entitled to sa benefits. the level of sa benefits is equal to ... ( and indicate differences between the sample averages with 10% or 1% significance, respectively). gross selected (aggregate) municipality observations in sample municipality cooperatives observations a welfare-to-work (wtw) and other ...
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Dia 1
... over the life cycle general equilibrium perspective how large are the aggregate risks? financial wealth 15 % human capital wealth 85 % current generations 20% future generations 65 % plus other risks demography ... also presentation lans tomorrow) conclusion on functions pension system should smooth shocks in financial wealth for the elderly but human capital is (even more) important, and risky too ...
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