techniques from the theory of multiple risk-bearing. Applying this analysis, the effect of labor income taxes on the demand for …The effect of uninsured labor income risk on the joint saving/portfolio composition decision is analyzed using new …

extremely high risk aversion would achieve a higher expected utility by holding a portfolio of stocks rather than bonds …

because government takes part of the risk from individual properties and diversifies it away. Measures to disallow property … tax or mortgage interest deductions do not help share this risk. Simulations of actual tax reform indicate a small shift … from rental to owner housing, and welfare gains from re-allocating risk …

can help to adequately buffer income risk and obtain sufficient risk-free income at a later stage of life, while also … rigorous discussions and innovative solutions. The latter may find a few of the concepts a bit challenging. Yet, theory and … Constraints -- Dynamic Saving and Portfolio Decisions-Theory -- Asset Accumulation with Estimated Low Frequency Movements Asset …