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Optimal life-cycle portfolios for heterogeneous workers
Bagliano, Fabio C.; Fugazza, Carolina; Nicodano, Giovanna - Collegio Carlo Alberto, Università degli Studi di Torino - 2012
Household portfolios include risky bonds, beyond stocks, and respond to permanent labour income shocks. This paper brings these features into a life-cycle setting, and shows that optimal stock investment is constant or increasing in age before retirement for realistic parameter combinations. The...
Persistent link: https://www.econbiz.de/10010862059
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Optimal life-cycle portfolios for heterogeneous workers
Bagliano, Fabio C.; Fugazza, Carolina; Nicodano, Giovanna - Dipartimento di Scienze Economico-Sociali e … - 2012
Household portfolios include risky bonds, beyond stocks, and respond to permanent labour income shocks. This paper brings these features into a life-cycle setting, and shows that optimal stock investment is constant or increasing in age before retirement for realistic parameter combinations. The...
Persistent link: https://www.econbiz.de/10010575240
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Optimal life-cycle portfolios for heterogeneous workers
Bagliano, Fabio C.; Fugazza, Carolina; Nicodano, Giovanna - Dipartimento di Scienze Economico-Sociali e … - 2012
Household portfolios include risky bonds, beyond stocks, and respond to permanent labour income shocks. This paper brings these features into a life-cycle setting, and shows that optimal stock investment is constant or increasing in age before retirement for realistic parameter combinations. The...
Persistent link: https://www.econbiz.de/10010575640
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Optimal life-cycle portfolios for heterogeneous workers
Bagliano, Fabio; Fugazza, Carolina; Nicodano, Giovanna - Dipartimento di Economia, Metodi Quantitativi e … - 2013
Household portfolios include risky bonds, beyond stocks, and respond to permanent labour income shocks. This paper brings these features into a life-cycle setting, and shows that optimal stock investment is constant or increasing in age before retirement for realistic parameter combinations. The...
Persistent link: https://www.econbiz.de/10010901444
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Portfolio Implications of Cointegration Between Labor Income and Dividends
Jong, Frank - In: De Economist 160 (2012) 4, pp. 397-412
This paper analyzes the implications of cointegration between labor income and dividends for the optimal portfolio weight for stocks. In a recent paper, Benzoni et al. (J Finance 62:2123–2167, <CitationRef CitationID="CR1">2007</CitationRef>) claim that, as a result of cointegration, the optimal weight in stocks may be smaller for...</citationref>
Persistent link: https://www.econbiz.de/10010988364
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The impact of TFP growth on the unemployment rate: does on-the-job training matter?
Moreno-Galbis, Eva - Centre pour la Recherche Économique et ses … - 2012
This paper seeks to gain insights into the relationship between growth and unemployment in a setting with heterogeneous … the model to more closely match the estimated sensitivity of unemployment with respect to growth. When calibrated, the … unemployment for individuals receiving training, while it increases the unemployment rate of unskilled workers without training …
Persistent link: https://www.econbiz.de/10010685788
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The impact of TFP growth on the unemployment rate: Does on-the-job training matter?
Moreno-Galbis, Eva - In: European Economic Review 56 (2012) 8, pp. 1692-1713
This paper seeks to gain insights into the relationship between growth and unemployment in a setting with heterogeneous … the model to more closely match the estimated sensitivity of unemployment with respect to growth. When calibrated, the … unemployment for individuals receiving training, while it increases the unemployment rate of unskilled workers without training …
Persistent link: https://www.econbiz.de/10010588203
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On the impact of the TFP growth on the employment rate: does training on-the-job matter?
Moreno-Galbis, Eva - HAL - 2010
This paper seeks to gain insights on the relationship between growth and unemployment when considering heterogeneous … growth yields a reduction in the unemployment rates, for unskilled workers not getting trained growth fosters a rise in the … unemployment rates. …
Persistent link: https://www.econbiz.de/10010821435
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On the impact of the TFP growth on the employment rate: does training on-the-job matter?
Moreno-Galbis, Eva - Centre pour la Recherche Économique et ses … - 2010
This paper seeks to gain insights on the relationship between growth and unemployment when considering heterogeneous … reduction in the unemployment rates, for unskilled workers not getting trained growth fosters a rise in the unemployment rates. …
Persistent link: https://www.econbiz.de/10008914756
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The Timing of Careers and Human Capital Depreciation
Kunze, Astrid - Institute for the Study of Labor (IZA) - 2002
Germany. The analysis distinguishes four types of career interruptions: unemployment, parental leave for female workers …
Persistent link: https://www.econbiz.de/10005566662