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Recursive preferences, the value of life, and household finance

Bommier, Antoine; Harenberg, Daniel; Le Grand, François; … - 2020

Persistent link: https://www.econbiz.de/10012319445

A structural analysis of the health expenditures and portfolio choices of retired agents

Hugonnier, Julien; Pelgrin, Florian; St.-Amour, Pascal - 2010

with recursive utility, as well as health-dependent income and mortality risk. Our estimates of the deep parameters … highlight the importance of health capital, mortality risk control, convex health and mortality adjustment costs and binding …

Persistent link: https://www.econbiz.de/10008797085

Value of life and annuity demand

Pashchenko, Svetlana; Ponpoje Porapakkarm - In: The journal of risk & insurance 89 (2022) 2, pp. 371-396

Persistent link: https://www.econbiz.de/10013191439

Portfolio choices over the life-cycle and the cyclical skewness of labor income shocks

Catherine, Sylvain - 2016

I estimate a life-cycle model of portfolio choices that incorporates the relationship between market returns and the skewness of idiosyncratic income shocks. The cyclicality of skewness can explain (i) low stock market participation among young households, (ii) why the equity share of...

Persistent link: https://www.econbiz.de/10011612048

A human capital explanation for an asset allocation puzzle

Michaelides, Alexander G.; Gomes, Francisco J. - 2003

Persistent link: https://www.econbiz.de/10002093345

Optimal portfolio management for individual pension plans

Gollier, Christian (contributor) - 2005

We explore the various arguments for and against the recommendation that younger households should invest a larger share of their pension wealth in risky assets. The ability of young agents to compensate their financial losses by saving more during their career provides the strongest argument in...