a RTN background risk. We use this methodology to prove and extend a well-known theorem about dynamic investment … strategy, due to Mossin (1968a). We also use this methodology to analyze investment behavior in the presence of an income tax … as well as to analyze investment behavior in the presence of particular types of background risks. -- background risk …

We study the interplay between tenure decisions, stock market investment and the public social security system. Housing …

We study an investment experiment conducted with a representative sample of German households. Respondents invest in a …

In the absence of financing frictions, profit taxes reduce investment by their effect on the user cost of capital. With … finance constraints due to moral hazard, investment becomes sensitive to cash-flow and own equity of firms. We propose a … corporate finance model of investment and derive three central results: (i) Even small taxes impose first order welfare losses …

easing entrepreneurial investments for credit-constrained individuals whose investment possibilities depend on their income …

pay back debt. In the long run, the allocation of undistributed cash to investment, retained earnings, and debt repayment …