undiversifiable labor income risk. Optimal portfolios are internationally diversified while positive correlation between domestic … with a small amount of buffer stock saving, while exchange rate risk makes foreign investments less appealing to risk …

labor income risk and stock-market participation costs. In contrast to the initial motivation, we find that the model is not …

simultaneously matching stock market participation and individual asset holdings. The high risk premium is driven by incomplete risk … negligible impact on the risk premium, contrary to the results of models where it is imposed exogenously. …

We show that a life-cycle model with realistically calibrated uninsurable labor income risk and moderate risk aversion … risk aversion. Households with low risk aversion smooth earnings shocks with a small buffer stock of assets and … consequently most of them (optimally) never invest in equities. Therefore, the marginal stockholders are (endogenously) more risk …

experiences of online risk among children, the affordances of SNS lend support to this possibility, attracting much policy and … second hypothesis stated that SNS users with more digital competence will encounter more online risk than those with less …) will encounter more online risk than those with fewer risky practices: this too was supported by the data; thus what …