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1 - 10 van 94 voor assume that households
appendix derivations dsge model pdf
... . households also receive a profits made by actuarial insurance firms, pt d na+t-1,t-1 nt-1 divai t , where we assume proportional to actuarial note holdings. we assume that households ... receive a dividend. we also assume that households have actuarial insurance on their real money holdings. this 4 ensures that the real money holdings of deceased' households are also redistributed to the surviving ...
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Microsoft Word - discussion52
... . rust (1989), rust and phelan (1997) and heyma (2004) assume that households cannot borrow or save. this last assumption is equivalent to assuming that consumption at any time t equals income yt at time ... current time t, for which h(t) 0. next, assume that the pension fund adjusts replacement rates according to some discount factor , so that from its own viewpoint the scheme is actuarially fair ...
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memo161.pdf
... 1.14). we have considered three ways to determine the consumption profile of households. the first route is to assume that the consumption profile should match both the budget equation (1.8) ... . chambers and schlagenhauf (2002) show that us households hold 52.4% as cash, 19.5% as bonds and 28% as equity. following sorensen (2001b), we assume that households can relatively easily substitute between ...
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Microsoft Word - New evidence of the effect of transac.doc
... on evaluations of permanent income, anticipated changes in household composition, etc. so, we assume that households have perfect foresight. we follow the literature by assuming the existence of moving ... as , is equal estimates imply that households that live in residences of low value tend to move to more expensive residences space (vertical mobility); households that live in residences of ...
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analyzing labour supply elderly people life cycle approach pdf
... ). second tier pension benefits are adjusted over time to smooth total pension income of households. that is, if individuals receive simultaneously both first and second-tier pension benefits, second-tier ... supply profile.30 we assume that continuing increases in dt are caused by deteriorating health. health, then, is the job-related physical and or mental condition that affects the (complete) time ...
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Microsoft Word - ageing_.doc
... redistribution, it is yet important to take account of policies that affect the value of current asset holdings of households, particularly their housing wealth. a change in house prices can ... to a required emu surplus of 2.9%. again, it should be noticed that these indicators for sustainability assume that no measures are taken to curb future age-related expenditures. the economics ...
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Microsoft Word - DP128_demooij _2_.doc
... . the first period), households choose to allocate their time between leisure and work. when old (i.e. the second period) households do not work but only consume. young households receive after-tax wage ... begin with, we assume that only one country undertakes the reform at a time. but we allow each country to undertake the reform in turn, and analyse the impact on that country. our ...
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analysis individual accounts unemployment risk netherlands pdf
... consumption using uk data. they find that job loss is associated with a drop in food consumption of 17 percent, with a larger drop for households with zero or negative financial wealth ... three possible outcomes of employment, short-term unemployment and long-term unemployment. for simplicity we assume that the probability of 33 figure 5.1 phases and shocks in the model entry young ...
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Microsoft Word - DP ECA voorblad.doc
... countries, thereby assuming that each country adjust transfers to households to maintain revenue neutrality. hence, countries that broaden their base are able to raise transfers; countries that narrow their base ... the apportionment formula throughout the analysis and assume that labour taxes are used to balance the government budget. we start from the assumption that a common base is imposed, i.e ...
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Microsoft Word - DP CCCTB voorblad.doc
... implies that behavioural margins of firms and households are derived from microeconomic optimisation. this allows for easy interpretation of the results. the general equilibrium setting implies that feedback ... assume for simplicity that each country has an equal apportionment, so that the effective statutory rate is t 0.5(ti+tj). if we assume that g b in each country, then the probability that ...
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