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This paper describes a structural dynamic microsimulation model of the household that has been developed to explore behavioural responses to pensions policy counterfactuals in Ireland. The model is based upon the life-cycle theory of behaviour, which assumes that individuals make their decisions...
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Our goal in this chapter is to explain concretely how to implement simulation methods in a very general class of models …
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The performance of a given portfolio policy can in principle be evaluated by comparing its expected utility with that …
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