Efficient portfolios when housing needs change over the life cycle
نویسندگان
چکیده
منابع مشابه
Optimal Housing, Consumption, and Investment Decisions over the Life Cycle
We provide explicit solutions to life-cycle utility maximization problems simultaneously involving dynamic decisions on investments in stocks and bonds, consumption of perishable goods, and the rental and the ownership of residential real estate. House prices, stock prices, interest rates, and the labor income of the decision-maker follow correlated stochastic processes. The preferences of the ...
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ALEXANDRA D. SYPHARD*{, SUSAN I. STEWART{, JASON MCKEEFRY{, ROGER B. HAMMER§, JEREMY S. FRIED", SHERRY HOLCOMB{ and VOLKER C. RADELOFF{ {Department of Forest Ecology and Management, University of Wisconsin, Madison, WI, 53706, USA {USDA Forest Service, Northern Research Station, Evanston, IL, 60201, USA §Department of Sociology, Oregon State University, Corvallis, OR, 97331, USA "USDA Forest Se...
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ژورنال
عنوان ژورنال: Journal of Banking & Finance
سال: 2009
ISSN: 0378-4266
DOI: 10.1016/j.jbankfin.2009.05.002