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1 - 10 van 112 voor utility function
appendix derivations dsge model pdf
... utility subject to a budget constraint and a constant probability of death, 1-d. if the age of a houdeshold in period t 0 is denoted a, then its utility function ... utility of holding real money balances, is a measure of the disutility of labour, and is a measure curvature of the utility function. we have chosen this particular form for the utility function ... achieved by setting utility function, then ...
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analyzing labour supply elderly people life cycle approach pdf
... assumed to be either good or poor, affects the parameters in the utility function. estimates imply that the marginal utility of consumption is smaller, and the marginal disutility of hours of ... is relatively stronger if 1. finally, the assumed utility function implies a link between the marginal utility of consumption and the marginal utility of bequest. this link is immediately evident at the ...
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Athena
... a number of consecutive rounds in athena. in the top layer the macro consumption function is determined, this function is the same as in saffier. 2.4.1 total consumption the consumption ... various suppliers (i.e. countries). for this second round a constant elasticity of substitution (ces) utility function is used. competitive exports in athena this approach is operated as follows. the relevant world ...
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Microsoft Word - DP128_demooij _2_.doc
... households make their decisions regarding work, consumption and saving by maximizing a life-time utility function subject to an intertemporal budget constraint. when young (i.e. the first period), ... of all future cash flows subject to the accumulation constraints and a production function. the production function features three primary factors labour, capital and a fixed factor. labour is ...
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Microsoft Word - disc76.doc
... it is assumed that the welfare of the family enters the utility function of the alcohol consumer. in the case of alcohol abuse, this ... of the external costs (section 4), the shape of the damage function of alcohol consumption and the price responsiveness of drinkers. this ... as excise revenue. 5.1 shape of the alcohol damage function as shown in section 3, the externalities of alcohol consumption ...
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Microsoft Word - DP ECA voorblad.doc
... households make their decisions regarding work, consumption and saving by maximising a life-time utility function subject to an intertemporal budget constraint. when young (i.e. the ...rst period), ... of all future cash ows subject to the accumulation constraints and a production function. the production function features three primary factors labour, capital and a ...xed factor. labour is ...
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Microsoft Word - DP CCCTB voorblad.doc
... households make their decisions regarding work, consumption and saving by maximizing a life-time utility function subject to an intertemporal budget constraint. when young (i.e. the first period), ... of all future cash flows subject to the accumulation constraints and a production function. the production function features three primary factors labour, capital and a fixed factor. labour is ...
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competition and access price regulation broadband market pdf
... definition is supported by any utility function yielding the above demand system; for instance the following simple form satisfies u(q) t qt b q from this utility function exactly the same demand system arises when the representative consumer maximizes his utility given his budget constraint. 4 since the analysis is ...
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Microsoft Word - cpbdoc194.doc
... assume that consumers in country j maximize their utility u, which is defined by a ces utility function ( )( ) ( i ijijj cu (3.1) subject to ... two countries. each multilateral resistance term is a non-linear function of the multilateral resistance terms of the other countries, their ... assume that trade costs between country i and j are a function of these factors in the following way 1 (1 ) ijteu ...
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costs and benefits providing open space cities pdf
... substitute it in the utility function to write the condition for a market equilibrium as ( ) ),,,,( ushxshptxyu -- . (2.12) even though this hedonic price function is only defined in our ... one can only consider utility functions for which only one parameter of the utility function occurs in the marginal utility of each attribute. this is restrictive the specified utility function is quasi linear, ...
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