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Optimal Portfolio Choice Over the Life Cycle with Social Security
Smetters, Kent A. - 2011
This paper examines how households should optimally allocate their portfolio choices between risky stocks and risk … that, with homothetic utility, the allocation should be roughly independent of a household's permanent income. The actual …
Persistent link: https://www.econbiz.de/10013132560
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Optimal Portfolio Choice with Wage-Indexed Social Security
Li, Jialun - 2011
This paper re-examines the classic question of how a household should optimally allocate its portfolio between risky … stocks and risk-free bonds over its lifecycle. We show that allowing for the wage indexation of social security benefits …
Persistent link: https://www.econbiz.de/10013125573
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Investing Over the Life Cycle with Long-Run Labor Income Risk
Benzoni, Luca - 2009
market risk when they approach retirement. The authors show how long-run labor income risk helps explain this evidence …. Moreover, they discuss the effect of long-run labor income risk on the valuation of pension plan obligations, their funding …
Persistent link: https://www.econbiz.de/10013155513
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Countercyclical Risks and Portfolio Choice Over the Life Cycle : Evidence and Theory
Shen, Jialu - 2019
I show that countercyclical earnings dynamics can have quantitatively important effects on saving and portfolio choice decisions over the life cycle. During expansions (recessions) when expected future earnings growth is high (low), households save less (more) and also invest a higher (lower)...
Persistent link: https://www.econbiz.de/10012898145
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Life-cycle risk-taking with personal disaster risk
Bagliano, Fabio C.; Fugazza, Carolina; Nicodano, Giovanna - 2021
Persistent link: https://www.econbiz.de/10012583768
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Life-cycle risk-taking with personal disaster risk
Bagliano, Fabio C.; Fugazza, Carolina; Nicodano, Giovanna - 2021
or long-term unemployment, may occur during working years. Personal disaster risk alters lifetime ex-ante investment … characterizes rare disasters, results in lower risk-taking at the beginning of working life, and is crucial in order to match the …
Persistent link: https://www.econbiz.de/10012793436
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Optimal portfolio choice over the life cycle with social security
Smetters, Kent A.; Chen, Ying - 2009
Persistent link: https://www.econbiz.de/10009354797
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Optimal portfolio choice with wage-indexed social security
Li, Jialun; Smetters, Kent A. - 2011
NBER Bulletin on Aging and Health by email. This paper re-examines the classic question of how a household should optimally … allocate its portfolio between risky stocks and risk-free bonds over its lifecycle. We show that allowing for the wage …
Persistent link: https://www.econbiz.de/10009129772
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Countercyclical risks, consumption, and portfolio choice : theory and evidence
Shen, Jialu - In: Management science : journal of the Institute for … 70 (2024) 5, pp. 2862-2881
Persistent link: https://www.econbiz.de/10014550951
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Optimal Portfolio Choice with Wage-Indexed Social Security
Li, Jialun - 2011
This paper re-examines the classic question of how a household should optimally allocate its portfolio between risky … stocks and risk-free bonds over its lifecycle. We show that allowing for the wage indexation of social security benefits …
Persistent link: https://www.econbiz.de/10012461633