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Optimal Consumption and Portfolio Choice with Borrowing Constraints

โœ Scribed by Jean-Luc Vila; Thaleia Zariphopoulou

Book ID
112257676
Publisher
Elsevier Science
Year
1997
Tongue
English
Weight
454 KB
Volume
77
Category
Article
ISSN
0022-0531

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๐Ÿ“œ SIMILAR VOLUMES

Optimal consumptionโ€“portfolio choices an
Optimal consumptionโ€“portfolio choices and retirement planning
โœ Zvi Bodie; Jรฉrรดme B. Detemple; Susanne Otruba; Stephan Walter ๐Ÿ“‚ Article ๐Ÿ“… 2004 ๐Ÿ› Elsevier Science ๐ŸŒ English โš– 414 KB

We examine consumption and investment decisions in a life-cycle model with habit formation, stochastic opportunity set, stochastic wages and labor supply exibility. Retirement is taken into account by specifying an age at which labor earnings stop, but consumption spending continues. Explicit soluti