|
1 - 10 van 115 voor investment strategy
discounting investments mitigation and adaptation pdf
... return minus (the flow of) consumption. we want to maximize utility over consumption and the investment strategy. setting up the bellman equation we get12 , , ( , ) ( , ) max ( , ) c a b e dj w t ... lending allowed (but contingent claims not). let a and c denotes the optimal physical investment and consumption strategy for the first planning problem and j the corresponding indirect utility (or value) ...
cpb.nl
00/research memorandum Can we a [PFP#1092373775]
... investment strategy of pension funds. in particular, compared to db schemes, dc plans must pursue a more cautious investment strategy because individual members are less able to bear investment ...
cpb.nl
intergenerational risk sharing pdf
... upon the distribution of shocks in the two periods of his life. consequently, if the investment strategy of the pension fund improves welfare for this single generation, the policy is automatically a ... t rt et ce rate of return is the return on a hypothetical risk-free investment strategy that provides individuals the same expected utility level as they receive from optimally investing their ...
cpb.nl
memo241.pdf
... cast doubt on the possibility to successfully use dividend yield information in a portfolio investment strategy, as advocated in campbell and viceira (2002). assessment asset excess returns show predictable variation ... data in long-term returns. it is therefore doubtful whether a successful portfolio investment strategy can be devised that is based on the predictability of asset returns. 2. ...
cpb.nl
Microsoft Word - discussion156.doc
... making. this applies to households who have to decide on their investment portfolio, to pension funds determining the financial strategy, and governments who have estimate future tax revenues. this meta- ... in terms of an investment strategy (see also broer et al., 2010). as these high expected returns coincide with high volatility, they do not yield better investment opportunities but rather a ...
cpb.nl
Research Memorandum (set-up) [PFP#500828465]
... follow the same investment strategy as the initiating firm. the strategic response is a strategic substitute if the competitors follow an opposite strategy by accommodating the impact of the investment impulse on ... a constant investment strategy in the course of time, because we used all available data for determining the correlations. actually, for each company we now try to explain its investment ...
cpb.nl
Microsoft Word - discussion62.doc
... , like the height of dikes.2 but firstly, his solution is not complete. an optimal investment strategy should give the answers to two related questions. the first is when to invest? and ... solution resembles therefore the well-known (s- , s+ ) strategy for replenishing stocks. so, the protection level will be high just after an investment resulting in a low expected yearly loss by flooding ...
cpb.nl
dp182retirement flexibility and portfolio choice pdf
... varied stdev astdev delta lambdaf lambdai the equity premium. the result of this investment strategy is that retirement flexibility induces agents to retire earlier on average compared to ... effect exacerbates the positive correlation between labour income and capital returns, making equity investment relative unattractive un- der retirement flexibility. when productivity goes down, both the return ...
cpb.nl
List of publications of aml.pdf
... , in liebscher, k., christl, j., mooslechner, p., ritzberger-gruenwald, d. (eds.), foreign direct investment in europe a changing landscape, edward elgar, cheltenham, uk, european internal market for ... (associate experts). international spillovers of domestic reforms the joint application of the lisbon strategy in the eu, european commission, dg enterprise and industry, industrial policy and economic ...
cpb.nl
Microsoft Word - Charting CPB's course.doc
... analyses have a formal status in the decision process on infrastructural projects, but also for investment in knowledge-based projects. although the conclusions of our analyses are again quite influential, the ... two aspects come into play the selection process and the selection criteria. the discussion on strategy early in the year provides the programme leaders (and unit heads) with guidelines for ...
cpb.nl
| 