Optimal Life-Cycle Investing with Flexible Labor Supply: A Welfare Analysis of Life-Cycle Funds

A Note on Life-cycle Funds

Life-cycle or target-date funds have been gaining tremendous market share and were recently set as default choice of asset allocation in numerous defined contribution schemes or related old age provision products in many countries. Hence, an appropriate assessment of life-cycle funds’ risk-return profiles – i.e. the probability distribution of returns – is essential for sustainable financial pl...

Public pensions and labor supply over the life cycle

A Semiparametric Life Cycle Labor Supply Model with Non-Additive Fixed Effects

This paper estimates the Frisch elasticity of labor supply, which represents the intertemporal elasticity of substitution. Estimation of this elasticity has previously required assuming that utility is either separable between consumption and leisure or quasi-homothetic with respect to leisure. These restrictions are required to generate hours equations in which individual effects, representing...

Sensitivity Analysis of Fastenings’ Types on Track's Life-Cycle

During the study for the dimensioning as well as the selection of the individual materials constituting a railway track, the ballast and the substructure present residual deformations, directly related to the deterioration of the geometry of the track. The slighter the residual deformations and the slower their alteration over time is, the better the quality of the track. The actions acting ...

Life cycle analysis: A critique

Life cycle analysis (LCA) is an increasingly important tool for environmental policy, and even for industry. Analysts are also interested in forecasting future materials/energy fluxes on regional and global scales, as a function of various economic growth and regulatory scenarios. A fundamental tenet of LCA is that every material product must eventually become a waste. To choose the ‘greener’ o...