Bick, Björn; Kraft, Holger; Munk, Claus - 2009
income stream seems impossible to find in closed form and very difficult to find using numerical solution techniques. We … implement the strategy in a simple setting with constant interest rates, a single risky asset, and an exogenously given income … stochastic interest rates, and to endogenous labor supply decisions. -- Optimal consumption and investment ; labor income …