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The choice channel of financial innovation
Iachan, Felipe S.; Nenov, Plamen T.; Simsek, Alp - 2015
Persistent link: https://www.econbiz.de/10011417797
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The Choice Channel of Financial Innovation
Iachan, Felipe S. - 2015
effect of these developments on investors' savings and asset returns. In our model, investors with possibly heterogeneous … beliefs choose their savings portfolios. Under mild assumptions, we establish a choice channel by which greater portfolio … early 1980s, and is in contrast with the "precautionary savings" literature that would make the opposite prediction. Greater …
Persistent link: https://www.econbiz.de/10012456983
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The choice channel of financial innovation
Iachan, Felipe Saraiva; Nenov, Plamen T.; Simsek, Alp - 2020
Persistent link: https://www.econbiz.de/10012204172
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The Choice Channel of Financial Innovation
Iachan, Felipe - 2015
investors' savings and asset returns. We establish a choice channel by which greater portfolio choice increases investors …' savings—by enabling them to earn the aggregate risk premium or to take speculative positions. In equilibrium, portfolio …
Persistent link: https://www.econbiz.de/10013012668
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Is risk good for saving? : message from the general equilibrium model
Balasko, Yves; Kawamura, Enrique - 2013
Popular press and some practitioners have warned against threats that buying risky assets pose on agents saving for retirement, children education and other uses. This paper shows that in a standard two-period general equilibrium model where some savers have no risk-sharing motives, there exists...
Persistent link: https://www.econbiz.de/10009783701
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Dispersion in Options Investors’ Versus Analysts’ Expectations : Predictive Inference for Stock Returns
Andreou, Panayiotis C. - 2019
We create a market-wide measure of dispersion in options investors' expectations by aggregating across all stocks the dispersion in trading volume across moneynesses (DISP). DISP exhibits strong negative predictive power for future market returns and its information content is not subsumed by...
Persistent link: https://www.econbiz.de/10012905055
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Optimal savings for retirement : the role of individual accounts and disaster expectations
Le Blanc, Julia; Scholl, Almuth - 2011
' savings for retirement. We consider voluntary accounts as opposed to mandatory accounts with minimum contribution rates. We …
Persistent link: https://www.econbiz.de/10009424907
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Optimal Savings for Retirement : The Role of Individual Accounts and Disaster Expectations
Le Blanc, Julia - 2016
' savings for retirement. We consider voluntary accounts as opposed to mandatory accounts with minimum contribution rates. We …
Persistent link: https://www.econbiz.de/10012991008
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Asset management in volatile markets
Haiss, Peter R.; Sammer, Bernhard; Gartner, Martin; … - New Trends in Asset Management: Exploring the … - 2010
The 27th SUERF Colloquium in Munich in June 2008: New Trends in Asset Management: Exploring the Implications was already topical in the Summer of 2008. The subsequent dramatic events in the Autumn of 2008 made the presentations in Munich even more relevant to investors and bankers that want to...
Persistent link: https://www.econbiz.de/10011705329
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Portfolio Inertia and the Equity Premium
Gust, Christopher J.; López-Salido, José David - 2009
We develop a DSGE model in which aggregate shocks induce endogenous movements in risk. The key feature of our model is that households rebalance their financial portfolio allocations infrequently, as they face a fixed cost of transferring cash across accounts. We show that the model can account...
Persistent link: https://www.econbiz.de/10014200921