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A thoroughly modern global business story. In the spirit of James Clavell, China Fortunes is a vast and sweeping story … that addresses one of the hottest topics of the day, Chinese business. From a chaotic start in China to an embezzling … outsiders. Traces the beginnings of China's entry into the industrial age, as it hesitantly embraced capitalism while …
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This paper investigates the impact of health and labor income risk on portfolio choice in a realistically calibrated life-cycle model. The model shows that health risk reduces the desired exposure to risky assets, consistent with empirical findings. Moreover, the model's prediction matches...
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