摘要：We derive a fully non-linear optimal income tax schedule in the presence of private insurance. We fill the gap in the literature by studying the optimal tax formula with a comprehensive structure of the private markets—including incomplete markets models—both theoretically and quantitatively. ...
According to this model, if samples (i − 1) and (i) are h time units apart, then μ(i) can be expressed in terms of μ(i − 1) asμ(i)=(1-ϕh)ξ+ϕhμ(i-1)+αii The cost model Duncan (1956) was the first to present a complete model for the economic design ...
Such cascading conceptualisations of uncertainty are prominent in work describing coupled models or multi-stage assessments (Refsgaard et al., 2016). These sub-systems can also be conceptualised as having broad thematic categories (e.g. Wätzold, 2000). This approach is common in environmental ...
(t)\\) of the state vector and if the additive errors in the state vector are Gaussian such that its covariances are independent of past controls, then the optimal control law can be expressed as: u ( t ) = K ( t ) m ( t ), where m ( t ) is the conditional mean forecast ...
Economy-wide models are the most commonly used tool to simulate national economic policies and their impacts on sustainability performance33,34. In the second step of the framework, an economy-wide model (i.e., computable general equilibrium model) is used to simulate the scope of different ...
The production module is used to characterize production processes. Firms rent capital and use labour to process natural resources and intermediate inputs produced by other firms into a specific product. The production process for firmican be expressed as follows, ...
"The people-smuggling gangs do not care if the vulnerable people they exploit live or die, as long as they pay. We will stop at nothing to dismantle their business models and bring them to justice." A group of people thought to be migrants being brought ashore by Bo...
researchers constructed statistical models to show how people felt and the actions they took as a result of their reported feelings.The study found that ratings of life satisfaction had a direct linear relationship to actions people subsequently take.Participants who rated their jo...
Plausible estimates of climate change contributions to future yield growth have become important, because climate change is recognized as a threat to achieving sustainable global yield growth at rates needed to meet demand5 if no changes in trade and harvested areas are assumed. Economic models have...
In the climbing curve, the climbing rate represents the improved speed of the tourism economic resilience co-opetition in urban agglomeration. By derivation of the above curve formula, the climbing rate can be obtained, which can be expressed as: $$ p_{t}^{\prime } = \left\{ {\begin{...