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    Copy or Deviate? The Market Economy as a Self-Organizing System

    Published 21-11-2022
    DREAM Peter Stephensen

    An agent-based model for a decentralized market economy with multiple sectors is set up and it is demonstrated that the economy is self-organizing if four empirically relevant conditions apply.

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    A short note on Perceived Risk

    Published 09-09-2022
    DREAM Peter Stephensen

    In standard porfolio theory, mean-variance analysis is used to assamble a portfolio of assets such that the expected return is maximized for a given level of risk. In this note we give a behavioral ve ...

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    Pension Wealth, Preference Heterogeneity and the Impact of Retirement Policies

    Published 12-12-2018
    DREAM Søren Arnberg Anne-Line Koch Helsø Peter Stephensen

    We propose and estimate a structural retirement model with leisure preference heterogeneity using high-quality Danish register data with information about individual private pension wealth.

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    The Danish Labour Force 1980-2015 — and the importance of education

    Published 28-02-2018
    DREAM Hans Bækgaard Anne-Line Koch Helsø

    In this paper, we analyse the development in labour force participation of cohorts of males and females with different levels of education.

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    Full Integration of a CGE model in a Microsimulation Model: A Recipe

    Published 23-09-2016
    SMILE DREAM Peter Stephensen

    A method for full integration of a static Computable General Equilibrium model (a CGE model) in a Microsimulation model is proposed.

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    An agent-based model of the housing market

    Published 02-09-2015
    DREAM Christian Langholz Carstensen

    This thesis develops a beta version of a new agent-based model of the Danish housing market, which is well suited to throw light on a range of aspects concerning business cycles and macro-prudential r ...

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    Modelling Retirement with Heterogeneity

    Published 04-05-2015
    DREAM Anne-Line Koch Helsø

    A retirement model defined within a push/pull framework allowing for heterogeneity in leisure preferences is estimated.

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    Long-term economic projection 2014

    Published 02-02-2015

    This report presents the DREAM long-term economic projection model for 2014. The DREAM model system is designed to evaluate the interaction between the public sector and the rest of the economy in the ...

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    The Impact of Immigrants on Public Finances: A Forecast Analysis for Denmark

    Published 02-02-2015
    DREAM Marianne Hansen

    In this paper we examine the potential of immigration to strengthen financial sustainability. The analysis is based on a forecast for the entire Danish economy made using a dynamic computable general ...

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    A microsimulation model for educational forecasting

    Published 07-11-2014
    DREAM Niels Erik Kaaber Rasmussen Peter Stephensen

    A dynamic microsimulation model for forecasting educational patterns is presented. At the level of individuals the model simulates lifetime educational behavior, resulting in a long term forecast of t ...