Household life‐cycle asset allocation and background risk of labor income
نویسندگان
چکیده
منابع مشابه
Lifecycle Investment Decisions and Labor Income Risk
The optimal proportion of financial wealth placed in stocks versus risk-free bonds changes over an investor’s life and is very sensitive to the long-run correlation between stock returns and labor income. If this correlation is assumed to be high, then the optimal proportion of stock is humpshaped and approximately zero for young agents, in contrast to the claims of financial advisers and most ...
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ژورنال
عنوان ژورنال: China Finance Review International
سال: 2013
ISSN: 2044-1398
DOI: 10.1108/20441391311330573