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This paper considers an alternative way of structuring stochastic variables in a dynamic programming framework where the model structure dictates that numerical methods of solution are necessary. Rather than estimating integrals within a Bellman equation using quadrature nodes, we use nodes...
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This article uses macro-level data from China, Japan, and South Korea, and employs a counterfactual estimation method … 0.61% and 1.33% in 2000 to 11.97% and 7.39% in 2020, respectively. Third, based on the counterfactual estimation method …
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moment was dropped from the estimation. The measures are all easy to compute. We illustrate the usefulness of the measures … through two simple examples as well as an application to a model of joint retirement planning of couples. We estimate the … precision of the estimate of the complementarity is primarily driven by the distribution of the differences in planned retirement …
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was dropped from the estimation. The measures are all easy to compute. We illustrate the usefulness of the measures … through two simple examples as well as an application to a model of joint retirement planning of couples. We estimate the … estimate of the complementarity is primarily informed by the distribution of di?erences in planned retirement dates. The …
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