Cauley, Stephen; Pavlov, Andrey; Schwartz, Eduardo - In: The Journal of Real Estate Finance and Economics 34 (2007) 3, pp. 283-311
and other assets. To analyze the impact of this constraint on consumption, welfare, and post-retirement wealth, we first … comparing these two cases, we estimate the differences in post-retirement wealth and the welfare gains potentially realizable if … appreciation on asset allocation and post-retirement wealth. Copyright Springer Science+Business Media, LLC 2007 …