bis 2011 ein nahezu stabiles Einkommensprofil, betrachtet man die Einkommen nach Steuern und Transfers. Das Ziel …

the zero-borrowing constraint is a lot weaker. More surprisingly, when I introduce idiosyncratic labor income risk in an …This paper analyzes how the combination of borrowing constraints and idiosyncratic risk affects the equity premium in … idiosyncratic risk increases the equity premium by 70 percent, which means that the mechanism described in Constantinides, Donaldson …