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1 - 10 van 35 voor asset allocation
disc160.pdf
... employment, family size and gender are similar. 10we loose observations because of missing information about asset ownership (about 2180), non response on the question about the planned retirement age (about 1220 ... direction of causality between wealth and the planned retirement age. 14 table 3 wealth and asset allocation by planned retirement age (pra)a pra 1994-1997 pra 1998-2004 pra a. mean ...
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dp175 systemic risk across sectors pdf
... measure is also of interest for investors considering the downside risk of a diversified asset allocation within a specific sector, especially the banking sector. although extreme negative returns generally ... is that stock market data reflects all publicly available information about (i) individual asset and liability side risks and (ii) dependencies between different banks' risks. this means ...
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Microsoft Word - discussion156.doc
... 3 abstract equity premium is a key parameter in asset allocation policies. there is a vigorous debate in the literature ... premium1 the equity premium is a key parameter in asset allocation policies. it measures the excess return above the risk ... . (2004). microfoundations of financial economics an introduction to general equilibrium asset pricing. princeton princeton university press. lettau, m., s.c. ...
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Tilburg finance tool huisstijl pdf
... parameters. 22 references bajeux-besnainou, i., j. v. jordan, and r. portait, 2003, dynamic asset allocation for stocks, bonds, and cash, the journal of business, bergstrom, a. r., 1984, handbook ... aggregation over time, 1145 212, elsevier. brennan, m. j. and y. xia, 2002, dynamic asset allocation under inflation, the journal of finance, broer, d. p., 2010, macroeconomic risks and pension ...
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Microsoft Word - Bijlage_publicaties_jaarrapportage 2009.doc
... december 2009, utrecht. mastrogiacomo, m., apps and rees model of life cycle time allocation and saving in an imperfect capital market, netspar, 30 januari 2009. mastrogiacomo, m ... .c., cpb role, position and opportunities for econometricians, uvt, studentenvereniging asset van de vakgroep econometrie, studentenvereniging asset van de vakgroep econometrie van de universiteit van tilburg, 5 februari ...
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Two-Tier Labor Markets in the Great Recession: France vs. Spain
... those who have worked before and are not eligible anymore the allocation de solidarite specifique (ass), with an amount equivalent to the ... may be different under permanent and temporary contracts.22 the asset value to the employer of a new permanent job, filled ... with probabilities p and 1-p, respectively. expressions represent the asset values to the worker of the different jobs, and their ...
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analyzing labour supply elderly people life cycle approach pdf
... is built on a life-cycle framework. in particular, to properly analyse the time allocation of households over the life cycle, an intertemporal framework that explores the interactions between ... pensions, a consumption floor provided by government welfare programs, stochastic processes for earnings and asset returns, layoff risk, job offer risk, health risk, and mortality risk. ex ante, agents ...
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Microsoft Word - ageing_.doc
... the revenues are unrelated to growth (e.g. natural gas, taxes related to returns on asset holdings of households and pension funds). the net effect on sustainability, as measured by the ... the composition of government expenditures is taken as given. yet, the composition matters for the allocation of the benefit from the government. for example, better education benefits the younger generations, while ...
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Microsoft Word - bijz90.doc
... the tax burden distribution; neutrality with respect to producer and consumer choices; tax revenue allocation to the country of consumption (destination principle); minimization of administration and compliance cost; ... or embody a stock of services that are consumed over the lifetime of the asset (for example, residential housing, cars, household appliances, and furniture). this contrasts with the ...
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Microsoft Word - DP ECA voorblad.doc
... the economic rents. household optimization yields expressions for labour supply, savings and the optimal asset portfolio. asset returns are determined on world markets and we do not explore residence-based taxes on ... e ect is o set by distortions of the allocation formula, where low-tax countries bene...t from attracting factors in the allocation formula at the expense of high-tax countries. finally ...
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