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1 - 10 van 79 voor interest rates and inflation
Microsoft Word - discussion156.doc
... , bas ter weel and ed westerhout are gratefully acknowledged. we are also grateful to jan luiten van zanden for sharing historical interest rates and inflation rates (from international institute of ... nominal interest rates and inflation.18 since interest rates are not available for the secondary emerging countries and the asian tigers, these had to be omitted from the sample. nominal interest rates ...
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Tilburg finance tool huisstijl pdf
... instantaneous real interest rate, r, holds rt xt (1) and for the instantaneous expected inflation, t xt (2) the dynamics in the state variables govern the autocorrelation in the interest rates and inflation. the state variables follow a mean-reverting process around zero2 dxt dt -kxtdt + x dzt (3) k and x where z denotes ...
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Microsoft Word - cpbdoc127.doc
... and income distribution 52 3.4 impact on inflation and interest rates 55 4 scenarios and simulations on china and the european economies 59 4.1 long-term scenarios up medium-term outlook and simulations up china and ...
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dutch fiscal framework history current practice and role cpb pdf
... the united states and britain, resulted in alternating periods of rising inflation and rising unemployment; this contrasted with the fine and stable trade-off between inflation and unemployment (the ... would raise interest rates and therefore increase the interest paid by the government, producers and consumers, deteriorate the exchange rate and harm in that way economic growth and public finance ...
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capital income taxation europe trends and trade offs pdf
... tax rates in europe have decreased tax rates on interest, dividend, and retained profit have unambiguously declined, both due to lower statutory corporate tax rates and lower personal tax rates ... and post tax rate of return on a marginal investment. properties forward looking method; marginal etr; tax burden on capital income problem sensitive for assumptions regarding inflation, interest rate and ...
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00/research memorandum Can we a [PFP#1092373775]
... interest rates and slowwage growth. hence, the returns on both human and financial capital would be low. in the high-growth scenario, called rapid growth, the situation would be reversed. both growth rates and interest rates ... 1%. the inflation rate market scenario and intergenerational solidarity scenario. in the intergenerational solidarity scenario, rapid wage growth and low rates of return ...
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gamma simulation model ageing pensions and public finances pdf
... costs of capital are not inflation neutral. an inflation increase given constant real rates of return influences the user costs of capital due to historical cost price depreciation allowances and due to the ... corporate profits are modelled as the balance of private sector production and the sum of wages, depreciation and the cost of interest on corporate debt. the burden of this tax is distributed ...
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india and dutch economy stylised facts and prospects pdf
... set interest rates and decided on the allocation of credit. since then, government control of financial services has been gradually diminished. in most market segments interest rates are no ... gdp ratio. but the growing deficit caused interest payments to increasingly crowd out non-interest expenditure, especially capital expenditure. as inflation started to decrease considerably after 2000, ...
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129 The Welfare Gains From Stab [PFP#1092202722]
... and fiscal authorities (bovenberg and de jong (1996)). in particular, the transferring of monetary policies to the european level may add to their credibility, especially in those countries with high inflation rates (giavazzi and ... . it adopts a portfolio model for the oecd and calculates the effects upon portfolio-allocation, interest rates and welfare in eu countries. the model focuses on ...
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dp182retirement flexibility and portfolio choice pdf
... there, however, the return on bonds is subject to inflation risk while retirement is exogenous. in our model, retirement is endogenous and we compare two different retirement settings under flexible retirement, ... to a higher demand for risk-free government bonds and, given the fixed level of government debt, to lower risk-free interest rates. this negative wealth effect induces agents to postpone ...
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