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Microsoft Word - CPB Memorandum 143.doc
... and independent traders were introduced into the market. this led to the emergence of short term trades, including the establishment of a liquid spot market2 . the function of grid management was conferred ... . 2 due to their long-term nature, contracts including oil-linked prices which have been concluded in the recent past still constitute a significant fraction of gas trades in the british market ...
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Microsoft Word - voorblad.docx
... a transaction tax on equity trades to discourage speculation. both argued that short-term trades were more likely to destabilize financial markets than long-term trades. milton friedman challenged this view ... higher revenue on their informed trades. subrahmanyam (1998) analyses a (two-period) model of information acquisition and trading that includes both long-term 4 see subrahmanyam (1998) for ...
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Microsoft Word - discussion154.doc
... proper 8 working of the securities markets because the one who trades upon the basis of such information has an unjustified advantage over ... and i are the market model parameters and ti, is the error term which has an expected value of zero. the market model is ... return may appear if these insiders (and other investors mimicking their trades) sell their stocks to cash in the profits obtained. in this ...
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auctioning incentive contracts application welfare work programs pdf
... government procures welfare-to-work projects to employment service providers. in doing so, the government trades off adverse selection (the winning provider is not the most efficient one) and moral hazard ... .1) refers to the probability that a provider announcing wins the auction, and the second term refers to its expected profit when winning. a necessary equilibrium condition is that u(, ) 0 ...
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L:\publicaties\...\doc11.wp [PFP#910893205]
... scenario. in the baseline, gdp growth former soviet union and row are based on long-term projections of the worldbank table 2.4 sectoral export in % of total export in the ... poland source own calculations on the basis of table 3.3 18 typical canadian province trades 22 times more with another canadian province than with a comparable neighbouring us state. this ...
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nahuise.dvi
... , because this decreases the gains from trade. so when foreign trades, it is optimal to have a lower standard than in autarky ... negative effect declines.15 we model psychological externalities by adding the term -1 2( s -s domestic welfare function. consequently, total domestic ... these expressions is the same as before, except for the final term in (5.3), which depicts the tariff revenues for home. ...
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memo1830.pdf
... , direct marketing, public relations, organising fairs and exhibitions 7. purchases and sales distributive trades ( incl. after sales services), client relations 8. facility management services security services, building ... transaction density in the trajectory between primary inputs and the final good. the term 'roundaboutedness' is derived from the neo-austrian capital theory where it is regarded ...
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Microsoft Word - memo160.doc
... italy japan korea mexico . netherlands norway new zealand . poland . portugal slovakia sweden turkey usa constant term 0.794398 0.238731 coefficient exports 0.815939 0.015876 dependent variable is the ... if the values of the reporting countries deviate less than 20%. an arbitrary reporting exporter trades with dozens of countries in a particular good. some of the transactions are reliable according ...
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Microsoft Word - 2009_02.doc
... to a shock.) this suggests that an educational split is more suited for a long-term analysis, whereas the occupational split has its advantages in the short and ... (managers and adminis- trators, professionals, and para-professionals). all other categories are unskilled wor- kers (trades-persons, clerks, salespersons and personal service workers, plant and machine operators and drivers, labourers and ...
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Microsoft Word - bijzonder88.doc
... pictures against which policymakers are able to consider and reconsider decisions and their long-term implications. scenarios bundle historical developments, current stylised facts and trends towards the future into ... can perform a range of tasks autonomously. workers generalise and become jacks-of-all-trades. this process has been going on in banks and insurance companies, for example. while ...
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