We introduce a money demand motive in a life-cycle portfolio choice model and estimate the structural parameters that can generate limited stock market participation and plausible holdings of money, bonds and stocks. The model predicts an increase in bond holdings over the life cycle, and a declining share of money in portfolios as wealth increases. Both predictions are consistent with the data...

This paper examines the effect of the labor-leisure choice on portfolio and consumption decisions over an individual’s life cycle. The model incorporates the fact that individuals may have considerable flexibility in varying their work effort (including their choice of when to retire). Given this flexibility, the individual simultaneously determines optimal levels of current consumption, labor ...

background: because of unemployment and inadequate education and health services, high rate of maternal and infant mortalities, a rapidly growing population is a serious problem in turkey. social values and attitudes of women might be effective in using modern family planning methods. our aim in this study was to evaluate the factors concerning the attitudes of married women toward family plann...

With the development of modern technology and Android Smartphone, Smart Living is gradually changing people’s life. Bluetooth technology, which aims to exchange data wirelessly in a short distance using short-wavelength radio transmissions, is providing a necessary technology to create convenience, intelligence and controllability. In this paper, a new Smart Living system called home lighting c...

Much of the macroeconomics literature dealing with wealth distribution has become abstracted from modeling housing explicitly. This paper investigates the properties of the wealth distribution and the portfolio composition regarding housing and equity holdings and their relationship to macroeconomic shocks. To this end, I construct a business cycle model in which agents differ in age, income, a...

Miller (1977) emphasized that optimal corporate financial policy depends on the tax rates facing the firm as well as the tax treatment accorded bondand stock-holders. In equilibrium, firms will issue claims that are held by the full spectrum of investors, from tax-exempt institutional investors to heavily taxed individuals. However, dealers are tax neutral institutions that can buy corporate se...

In this paper the efficiency of the electricity generation portfolio of BKW, a major Swiss utility, is analyzed. By applying mean-variance portfolio theory to the current and to possible future generation mixes, efficient frontiers are derived. The analysis based on relative changes in generation costs is complemented by an actual costs analysis. Moreover, a method that takes into account physi...

Dental microwear consists of microscopic damage features on the occlusal surfaces of tooth enamel and reflects physical properties of the diet, as well as enamel structure and post-mortem history of the tooth. Microwear analysis has been used to infer the diets of extinct mammals through comparison of features on fossil teeth with those on teeth of living mammals with known diets. A method for ...

Liang Bua 1 (LB1) exhibits marked craniofacial and postcranial asymmetries and other indicators of abnormal growth and development. Anomalies aside, 140 cranial features place LB1 within modern human ranges of variation, resembling Australomelanesian populations. Mandibular and dental features of LB1 and LB6/1 either show no substantial deviation from modern Homo sapiens or share features (rece...