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1 - 10 van 18 voor perfect foresight
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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Microsoft Word - cpbdoc214.doc
... 2.1 behavioural economics focuses on non-rational behaviour and non-economic motives rational behaviour (perfect foresight and information, no transaction costs, well defined and stable preferences) non-rational behaviour (short sightedness ...
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Microsoft Word - 2004_47.doc
... voor het macro arbeidsaanbod resulteren omdat daar het inkomenseffect nihil verondersteld agenten volledig rationeel (onder perfect foresight) calculeren; zie in genoemde studie bijvoorbeeld het negatieve werkgelegenheidseffect van de variant versobering' waarbij het ...
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fiscal prefunding response demographic uncertainty pdf
... if marginal distortions are directly linked to tax rates and the government has perfect foresight about future revenue requirements. in an uncertain world, a policy that minimizes ... essentially the model is deterministic. agents have perfect foresight; that is, their expectations coincide with realisations. lifetime uncertainty is recognised, but perfect capital 13 markets enable households to ...
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Onderzoeksmemorandum (set-up) [PFP#301156075]
... . if the forecaster had perfect foresight, then the decision maker would just have to find the decision d that minimizes l for the forecasted value of s. however, if perfect foresight is not available ...
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gamma simulation model ageing pensions and public finances pdf
... -term horizon of the model. third, the model is deterministic. lifetime uncertainty is recognised, but perfect capital markets enable households to insure against longevity risk. the population model in section 2 ... . only in a steady-state year we can break off the calculations due to a perfect foresight assumption in the economic model. long run, demographic developments are subject to a high level ...
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impact demographic uncertainty public finances netherlands pdf
... profiles of the netherlands. agents have perfect foresight; that is, their expectations coincide with realisations. lifetime uncertainty is recognised, but perfect capital markets enable households to insure ... and economic parts of the model concerns the perfect foresight of economic agents. within each simulation, agent have perfect information about future events. for example, households are ...
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Microsoft Word - cpbdoc79.doc
... a world in which there are no credit restrictions, individuals are forward looking and have perfect foresight over future incomes and needs, and in which there would be no need for the ...
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\\Webserver\...\2001_07.wp [PFP#710806420]
... fully deductible, corporate taxes become a pure profits tax. under constant returns to scale and perfect competition, total revenue equals total costs, profits are zero and there is no tax ... 93. w.a. brock and s.j. turnovsky (1981), the analysis of macroeconomic policies in perfect foresight equilibrium', international economic review, vol. 22. a.l. bovenberg and h. ter rele (1998), reforming ...
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