Gomes, Francisco J. (contributor); … - 2004 - [Elektronische Ressource]
invest their portfolios fully in stocks.
JEL Classification: G11.
Key Words: Life Cycle Models, Portfolio Choice, Preference … models is merely the
portfolio-demand manifestation of the equity premium puzzle, introducing a fixedcostinthe
model seems to … predicts that
young households which have already paid the participation cost will invest most of their
portfolio in equities …