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1 - 10 van 37 voor zero bond
appendix derivations dsge model pdf
... in models with infinitely-lived representative agents and non-distorting taxation, ricardian equivalence holds and bond holdings are irrelevant. hence, cash-in-the-letterbox and open market operations are equivalent. ... ) zero expected profit condition +div ft+1 +rk kt definition of investment it kt adjustment cost function it kt-1 - cp it foreign investment firms block optimal foreign bond holding ( ...
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Microsoft Word - DP128_demooij _2_.doc
... are affected by the effective average tax rate, which is not zero under the ace. an important example of a discrete choice ... statutory tax rates more important for individual countries (see also bond, 2000). this implies that cbit-type reforms may enhance welfare ... ed.), taxing capital income in the european union, oxford university press, oxford. bond, s.r. and m.p. devereux, design of a neutral ...
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Microsoft Word - discussion165.doc
... is, workers are paid less during their first years of employment and their implicit performance bond is potentially paid back near the end of their careers. second, several studies have found ... , abowd et al. (2006) find that the average structural returns to tenure are close to zero. however, this masks an enormous amount of heterogeneity in firm compensation, promotion and retention policies ...
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disc160.pdf
... based on two important assumptions. the time effects add up to zero and the coefficients are orthogonal to a linear trend. due to ... on dynamic panel data models like the one of arellano and bond (1991) propose to use lags of the explanatory variable. due to ... retire on the planned retirement age. references arellano, m., and s. bond (1991) some tests of specification for panel data monte carlo evidence ...
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doc211.pdf
... two ways directly, through financial markets such as money markets, bond markets, or equity markets, or indirectly through a financial intermediary, ... of liquidity. consumers can use money market funds or a bond market to pool their liquidity needs. for this, they do ... , the agency costs of solving the moral hazard problem are zero (diamond, 1984). second, banks will have an incentive to monitor ...
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dp174-flexible-retirement.pdf
... of his career precisely corres- pond to the posted implicit bond on an actuarially neutral basis. lazear style implicit contracts will ... to the statutory pension age and then suddenly dropping to zero seems questionable. as a worker approaches retirement, the return period ... employ- ment protection should display a hump shape, falling to zero again as the worker ap- proaches retirement. cheron et al. ...
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dp175 systemic risk across sectors pdf
... provides insurance on the payments of a bond in case of a credit event, where the underlying bond may also be issued by a non- ... the cross-sectional dependencies between failures. the measure fi is always between zero and the number of considered firms (n), and tends to increase ... simple linear transformation of fi (n0) such that eaf(n0) is between zero and one.3 we multiply eaf(n0) by 100 to express ...
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Microsoft Word - Abstract.docx
... and spillovers does local participation with multinationals matter?'. european economic review blundell, richard and bond, stephen. 1998. initial conditions and moment restrictions in dynamic panel data models'. journal of ... otherwise. column 1 excludes hong kong from the sample. column 2 excludes observations with zero mne activity. column 3 uses two-year lagged realizations of mne activity. column ...
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N:\...\discussion26.wp [PFP#1230639143]
... assumed that actual ict investment was not zero but rounded to zero by the respondents. accordingly, we imputed ... however, the resultingfirst-differenceestimatoroftenappearedtogiveunsatisfactoryresults(see,e.g. blundell and bond, 1998a). typical examples for the production function framework ... stock is close to zero (see hempell, 2002, for an illustration). blundell and bond (1998b) showed that the ...
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Microsoft Word - cpbdoc_tang.doc
... may be restored, and individuals keep their consumption paths unchanged in response to a bond issue. second, a bond issue may matter when households face liquidity constraints. in particular, when the ... at the moment the net current account for the oecd as a whole is approximately zero, these questions are highly relevant. capital mobility (between developed and developing countries) is discussed ...
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