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Microsoft Word - DP128_demooij _2_.doc
... an endogenous portfolio composition of savings. on the firm side, the model distinguishes between domestically owned corporate and non-corporate firms, as well as domestic subsidiaries of home and foreign ... to the headquarter in the parent country, which is assumed to wholly own the subsidiary. the headquarters are assumed to be wholly owned by domestic households. in the calibration of cortax, the ...
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Microsoft Word - DP ECA voorblad.doc
... each country, namely the representative domestic ...rm, the representative headquarter and 28 subsidiaries that are owned by the headquarters in the other countries. each ...rm maximises its value equal to ... take the sum of its headquarter and all subsidiaries. the subsidiaries are assumed to be wholly owned by the headquarter. rents earned by subsidiaries accrue to the households in the parent ...
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L:\publicaties\...\cpbdoc10.wp [PFP#811696075]
... often used in the computer services sector) note a) this includes wholly or majority-owned subsidiaries, joint ventures, franchise or licensing operations, partnerships, associate firms, reciprocal ... 1996); markusen maskus (1999) 11 markusen (1995) does not differentiate between firm-owned or employee-owned distinctive assets, and therefore disregards its implications for intra-firm distribution ...
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