Perfect foresight 

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appendix derivations dsge model pdf
... their behalf. that is, they behave as if they have perfect foresight, or in other words, they display certainty equivalence. this ... denotes the marginal nominal cost of a consumption bundle h. perfect competition among aggregators drives the price down to the marginal ... the current price the firm must supply. whereas in the perfect competition with flexible prices case the firm was choosing quantities ...
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analyzing labour supply elderly people life cycle approach pdf
... heterogeneity may matter, e.g. in ability, education, preferences or cohabitation. fifth, apart 10 from perfect foresight we also assume that the historical time path of individuals agrees with the optimal path ...
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