Kuzin, Vladimir; Bremus, Franziska - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010
We use a life-cycle model of consumption and portfolio choice to study the effects of social security on the investment decisions of households for the European case. Our model is mainly based on the one developed by Cocco, Gomes, and Maenhout (2005). We extend it by unemployment risk using...
