create a website

Investing over the life cycle with long-run labor income risk. (2009). Chyruk, Olena ; Benzoni, Luca.
In: Economic Perspectives.
RePEc:fip:fedhep:y:2009:i:qiii:p:29-43:n:v.33no.3.

Full description at Econpapers || Download paper

Cited: 9

Citations received by this document

Cites: 30

References cited by this document

Cocites: 50

Documents which have cited the same bibliography

Coauthors: 0

Authors who have wrote about the same topic

Citations

Citations received by this document

  1. Is household registration system responsible for the limited participation of stock market in China?. (2020). Liu, Yulin ; Zhang, Min.
    In: Review of Behavioral Finance.
    RePEc:eme:rbfpps:rbf-12-2019-0177.

    Full description at Econpapers || Download paper

  2. The Value and Risk of Human Capital. (2015). Chyruk, Olena ; Benzoni, Luca.
    In: Working Paper Series.
    RePEc:fip:fedhwp:wp-2015-06.

    Full description at Econpapers || Download paper

  3. Labor-Market Uncertainty and Portfolio Choice Puzzles. (2014). Karabarbounis, Marios ; Hong, Jay ; Chang, Yongsung.
    In: RCER Working Papers.
    RePEc:roc:rocher:582.

    Full description at Econpapers || Download paper

  4. Labor-Market Uncertainty and Portfolio Choice Puzzles. (2014). Karabarbounis, Marios ; Hong, Jay ; Chang, Yongsung.
    In: Working Paper.
    RePEc:fip:fedrwp:14-13.

    Full description at Econpapers || Download paper

  5. Optimal life-cycle portfolios for heterogeneous workers. (2013). Nicodano, Giovanna ; Bagliano, Fabio ; Fugazza, Carolina.
    In: Working Papers.
    RePEc:mib:wpaper:260.

    Full description at Econpapers || Download paper

  6. Human Capital and Long-Run Labor Income Risk. (2013). Chyruk, Olena ; Benzoni, Luca.
    In: Working Paper Series.
    RePEc:fip:fedhwp:wp-2013-16.

    Full description at Econpapers || Download paper

  7. Optimal life-cycle portfolios for heterogeneous workers. (2013). Nicodano, Giovanna ; Fugazza, Carolina ; Bagliano, Fabio.
    In: Carlo Alberto Notebooks.
    RePEc:cca:wpaper:266.

    Full description at Econpapers || Download paper

  8. Optimal life-cycle portfolios for heterogeneous workers. (2012). Nicodano, Giovanna ; Fugazza, Carolina ; Bagliano, Fabio.
    In: Working papers.
    RePEc:tur:wpapnw:012.

    Full description at Econpapers || Download paper

  9. Risk sharing with the unborn. (2011). Mehlkopf, R. J..
    In: Other publications TiSEM.
    RePEc:tiu:tiutis:fe8a8df6-455f-4624-af10-94430843bfb5.

    Full description at Econpapers || Download paper

References

References cited by this document

  1. _________ 1990, The ABO, the PBO, and pension investment policy, Financial Analysts Journal, Vol. 46, No. 5, September/October, pp. 27-34.
    Paper not yet in RePEc: Add citation now
  2. Benzoni, Luca, Pierre Collin-Dufresne, and Robert S. Goldstein, 2007, Portfolio choice over the life-cycle when the stock and labor markets are cointegrated, Journal of Finance, Vol. 62, No. 5, October, pp. 2123-2167, preprint available at http ://ssrn.com/abstract=875984.

  3. Bodie, Zvi, 2006, On asset-liability matching and federal deposit and pension insurance, Review, Federal Reserve Bank of St. Louis, Vol. 88, No. 4, July/August, pp. 323-330.

  4. Bulow, Jeremy I., 1982, What are corporate pension liabilities?, Quarterly Journal of Economics, Vol. 97, No. 3, August, pp. 435-452.

  5. Campbell, John Y., 2006, Household finance, Journal of Finance, Vol. 61, No. 4, August, pp. 1553-1604. ___________ 1996, Understanding risk and return, Journal of Political Economy, Vol. 104, No. 2, April, pp. 298-345.

  6. Campbell, John Y., Jo~o F. Cocco, Francisco J. Gomes, and Pascal J. Maenhout, 2001, Investing retirement wealth: A life-cycle model, in Risk Aspects of Investment-Based Social Security Reform, John Y Campbell and Martin Feldstein (eds.), Chicago: University of Chicago Press, pp. 439-482.

  7. Carroll, Christopher D., and Andrew A. Samwick, 1997, The nature of precautionary wealth, Journal of Monetary Economics, Vol. 40, No. 1, September, pp. 41-71.

  8. Cocco, Jo~o F., Francisco J. Gomes, and Pascal J. Maenhout, 2005, Consumption and portfolio choice over the life-cycle, Review of Financial Studies, Vol. 18, No. 2, Summer, pp. 491-533.

  9. Curcuru, Stephanie, John C. Heaton, Deborah J. Lucas, and Damien Moore, 2004, Heterogeneity and portfolio choice: Theory and evidence, University of Chicago and Northwestern University, working paper, September.
    Paper not yet in RePEc: Add citation now
  10. Davis, Steven J., and Paul Willen, 2000, Occupation -level income shocks and asset returns: Their covariance and implications for portfolio choice, National Bureau of Economic Research, working paper, No. 7905, September.

  11. Faig, Miquel, and Pauline Shum, 2002, Portfolio choice in the presence of personal illiquid proj ects, Journal of Finance, Vol. 57, No. 1, February, pp. 3 03-328.

  12. Geanakoplos, John D., and Stephen P. Zeldes, 2008, Reforming Social Security with progressive personal accounts, National Bureau of Economic Research, working paper, No. 13979, April. __________ 2007, The market value of accrued Social Security benefits, Columbia University and Yale University, working paper, December.

  13. Gomes, Francisco J., and Alexander Michaelides, 2005, Optimal life-cycle asset allocation: Understanding the empirical evidence, Journal of Finance, Vol. 60, No. 2, April, pp. 869-904.

  14. Gourinchas, Pierre-Olivier, and Jonathan A. Parker, 2002, Consumption over the life cycle, Econometrica, Vol. 70, No. 1, January, pp. 47-89.

  15. Haliassos, Michael, and Alexander Michaelides, 2003, Portfolio choice and liquidity constraints, International Economic Review, Vol. 44, No. 1, February, pp. 143-177.

  16. Haliassos, Michael, and Carol C. Bertaut, 1995, Why do so few hold stocks?, Economic Journal, Vol. 105, No. 432, September, pp. 1110-1 129.

  17. Heaton, John C., and Deborah J. Lucas, 2000, Portfolio choice and asset prices: The importance of entrepreneurial risk, Journal of Finance, Vol. 55, No. 3, June, 1163-1198.

  18. Jagannathan, Ravi, and Narayana R. Kocherlakota, 1996, Why should older people invest less in stocks than younger people?, Federal Reserve Bank of Minneapolis Quarterly Review, Vol. 20, No. 3, Summer, pp. 11-23.

  19. Lucas, Deborah J., and Stephen P. Zeldes, 2006, Valuing and hedging defined benefit pension obligations -The role of stocks revisited, Northwestern University and Columbia University, working paper, September.

  20. Lustig, Hanno, and Stijn Van Nieuwerburgh, 2008, The returns on human capital: Good news on Wall Street is bad news on Main Street, Review of Financial Studies, Vol. 21, No. 5, September, pp. 2097-2 137.

  21. Lynch, Anthony W., and Sinan Tan, 2008, Labor income dynamics at business cycle frequencies: Implications for portfolio choice, New York University and Fordham University, working paper.
    Paper not yet in RePEc: Add citation now
  22. Malkiel, Burton G., 1996, A Random Walk Down Wall Street: Including a L~fe-Cycle Guide to Personal Investing, New York: W. W. Norton.
    Paper not yet in RePEc: Add citation now
  23. Mankiw, N. Gregory, and Stephen P. Zeldes, 1991, The consumption of stockholders and nonstockholders, Journal of Financial Economics, Vol. 29, No. 1, March, pp. 97-112.

  24. Poterba, James M., and Andrew A. Samwick, 2001, Household portfolio allocation over the life cycle, in Aging Issues in the United States and Japan, Seiritsu Ogura, Toshiaki Tachibanaki, and David A. Wise (eds.), Chicago: University of Chicago Press, pp. 65-104.

  25. Quan, Daniel C., and Sheridan Titman, 1997, Commercial real estate prices and stock market returns: An international analysis, FinancialAnalysts Journal, Vol. 53, No. 3, May/June, pp. 2 1-34.
    Paper not yet in RePEc: Add citation now
  26. Rosen, Sherwin, 2008, Human capital, in The New Palgrave Dictionary of Economics, Steven N. Durlauf and Lawrence E. Blume (eds.), 2nd ed., 8 vols., Houndmills, Basingstoke, UK, and New York: Palgrave Macmillan.
    Paper not yet in RePEc: Add citation now
  27. Santos, Tano, and Pietro Veronesi, 2006, Labor income and predictable stock returns, Review of Financial Studies, Vol. 19, No. 1, Spring, pp. 1-44.

  28. Storesletten, Kjetil, Chris I. Telmer, and Amir Yaron, 2007, Asset pricing with idiosyncratic risk and overlapping generations, Review of Economic Dynamics, Vol. 10, No. 4, October, pp. 5 19-548. __________ 2004, Cyclical dynamics in idiosyncratic labor market risk, Journal of Political Economy, Vol. 112, No. 3, June, pp. 695-7 17.

  29. Viceira, Luis M., 2001, Optimal portfolio choice for long-horizon investors with nontradable labor income, Journal of Finance, Vol. 56, No. 2, April, pp. 433-470.

  30. Wachter, Jessica A., and Motohiro Yogo, 2009, Why do household portfolio shares rise in wealth?, University of Pennsylvania, Wharton School, working paper, February. Federal Reserve Bank of Chicago

Cocites

Documents in RePEc which have cited the same bibliography

  1. Intergenerational Risk Sharing. (2016). Romp, W ; Beetsma, R.
    In: Handbook of the Economics of Population Aging.
    RePEc:eee:hapoch:v1_311.

    Full description at Econpapers || Download paper

  2. Stock Selection as a Problem in Phylogenetics -- Evidence from the ASX. (2016). Rea, William ; Zhan, Juan ; Cheng, Hannah .
    In: Papers.
    RePEc:arx:papers:1603.02354.

    Full description at Econpapers || Download paper

  3. Housing habits and their implications for life-cycle consumption and investment. (2015). Munk, Claus ; Kraft, Holger ; Wagner, Sebastian.
    In: SAFE Working Paper Series.
    RePEc:zbw:safewp:85.

    Full description at Econpapers || Download paper

  4. Life-cycle portfolio choice with liquid and illiquid financial assets. (2015). Campanale, Claudio ; Gomes, Francisco ; Fugazza, Carolina.
    In: Journal of Monetary Economics.
    RePEc:eee:moneco:v:71:y:2015:i:c:p:67-83.

    Full description at Econpapers || Download paper

  5. Life-Cycle Portfolio choice with Liquid and Illiquid Assets. (2015). Campanale, Claudio ; Gomes, Francisco J ; Fugazza, Carolina.
    In: CEPR Discussion Papers.
    RePEc:cpr:ceprdp:10369.

    Full description at Econpapers || Download paper

  6. A Comparison of Three Network Portfolio Selection Methods -- Evidence from the Dow Jones. (2015). Rea, William ; Hannah Cheng Juan Zhan, .
    In: Working Papers in Economics.
    RePEc:cbt:econwp:15/02.

    Full description at Econpapers || Download paper

  7. THE ANALYSIS OF THE SECOND PILLAR PENSION FUNDS AND THE ROLE OF EXPECTATIONS. (2014). Bartkus, Algirdas.
    In: Organizations and Markets in Emerging Economies.
    RePEc:vul:omefvu:v:5:y:2014:i:2:id:179.

    Full description at Econpapers || Download paper

  8. Essays on habit formation and inflation hedging. (2014). Zhou, Y..
    In: Other publications TiSEM.
    RePEc:tiu:tiutis:4886da12-1b84-4fd9-aa07-312e22125ec3.

    Full description at Econpapers || Download paper

  9. Endogenous non-tradable earnings and households’ demand for risky assets. (2014). Arrondel, Luc ; Calvo-Pardo, Hector.
    In: Discussion Paper Series In Economics And Econometrics.
    RePEc:stn:sotoec:1414.

    Full description at Econpapers || Download paper

  10. Labor-Market Uncertainty and Portfolio Choice Puzzles. (2014). Karabarbounis, Marios ; Hong, Jay ; Chang, Yongsung.
    In: Working Paper.
    RePEc:fip:fedrwp:14-13.

    Full description at Econpapers || Download paper

  11. Unemployment and portfolio choice: Does persistence matter?. (2014). Bremus, Franziska ; Kuzin, Vladimir.
    In: Journal of Macroeconomics.
    RePEc:eee:jmacro:v:40:y:2014:i:c:p:99-113.

    Full description at Econpapers || Download paper

  12. An Application of Correlation Clustering to Portfolio Diversification. (2014). Rea, William ; Hannah Cheng Juan Zhan, .
    In: Working Papers in Economics.
    RePEc:cbt:econwp:14/11.

    Full description at Econpapers || Download paper

  13. ON FUTURE PENSIONS FROM THE SECOND PILLAR PENSION FUNDS. (2013). Bartkus, Algirdas.
    In: Organizations and Markets in Emerging Economies.
    RePEc:vul:omefvu:v:4:y:2013:i:1:id:146.

    Full description at Econpapers || Download paper

  14. Asset market participation and portfolio choice over the life-cycle. (2013). Guiso, Luigi ; Gottlieb, Charles ; Fagereng, Andreas.
    In: Discussion Papers.
    RePEc:ssb:dispap:758.

    Full description at Econpapers || Download paper

  15. The Money Value of a Man. (2013). Huggett, Mark.
    In: Working Papers.
    RePEc:pri:cepsud:238kaplan.

    Full description at Econpapers || Download paper

  16. A Contingent Claim Analysis of Suicide. (2013). Ikeda, Shin.
    In: GRIPS Discussion Papers.
    RePEc:ngi:dpaper:13-05.

    Full description at Econpapers || Download paper

  17. Optimal life-cycle portfolios for heterogeneous workers. (2013). Nicodano, Giovanna ; Bagliano, Fabio ; Fugazza, Carolina.
    In: Working Papers.
    RePEc:mib:wpaper:260.

    Full description at Econpapers || Download paper

  18. Human Capital and Long-Run Labor Income Risk. (2013). Chyruk, Olena ; Benzoni, Luca.
    In: Working Paper Series.
    RePEc:fip:fedhwp:wp-2013-16.

    Full description at Econpapers || Download paper

  19. Asset Market Participation and Portfolio Choice over the Life-Cycle. (2013). Guiso, Luigi ; Gottlieb, Charles ; Fagereng, Andreas.
    In: Economics Working Papers.
    RePEc:eui:euiwps:eco2013/07.

    Full description at Econpapers || Download paper

  20. Asset Market Participation and Portfolio Choice over the Life-Cycle. (2013). Guiso, Luigi ; Gottlieb, Charles ; Fagereng, Andreas.
    In: EIEF Working Papers Series.
    RePEc:eie:wpaper:1326.

    Full description at Econpapers || Download paper

  21. Structural estimation of stock market participation costs. (2013). Khorunzhina, Natalia.
    In: Journal of Economic Dynamics and Control.
    RePEc:eee:dyncon:v:37:y:2013:i:12:p:2928-2942.

    Full description at Econpapers || Download paper

  22. What drives pension indexation in turbulent times? An empirical examination of Dutch pension funds. (2013). Hilbers, Paul ; Broeders, Dirk ; Rijsbergen, David.
    In: Working Papers.
    RePEc:dnb:dnbwpp:368.

    Full description at Econpapers || Download paper

  23. Asset Market Participation and Portfolio Choice over the Life Cycle. (2013). Guiso, Luigi ; Gottlieb, Charles ; Fagereng, Andreas.
    In: CEPR Discussion Papers.
    RePEc:cpr:ceprdp:9691.

    Full description at Econpapers || Download paper

  24. The Money Value of a Man. (2012). Kaplan, Greg ; Huggett, Mark.
    In: PIER Working Paper Archive.
    RePEc:pen:papers:12-014.

    Full description at Econpapers || Download paper

  25. Portfolio risk management in a data-rich environment. (2012). Taamouti, Abderrahim ; Bouaddi, Mohammed.
    In: Financial Markets and Portfolio Management.
    RePEc:kap:fmktpm:v:26:y:2012:i:4:p:469-494.

    Full description at Econpapers || Download paper

  26. Optimal Portfolios for Occupational Funds under Time-Varying Correlations in Bull and Bear Markets? Assessing the Ex-Post Economic Value. (2012). Hyde, Stuart ; Guidolin, Massimo.
    In: Working Papers.
    RePEc:igi:igierp:455.

    Full description at Econpapers || Download paper

  27. The Money Value of a Man. (2012). Kaplan, Greg ; Huggett, Mark.
    In: Working Papers.
    RePEc:hka:wpaper:2012-009.

    Full description at Econpapers || Download paper

  28. The Money Value of a Man. (2012). Kaplan, Greg ; Huggett, Mark.
    In: Working Papers.
    RePEc:geo:guwopa:gueconwpa~12-12-02.

    Full description at Econpapers || Download paper

  29. Household Finance. An Emerging Field. (2012). Sodini, Paolo ; Guiso, Luigi.
    In: EIEF Working Papers Series.
    RePEc:eie:wpaper:1204.

    Full description at Econpapers || Download paper

  30. Multi-objective private wealth allocation without subportfolios. (2012). Cai, Jun ; Ge, Chenliang .
    In: Economic Modelling.
    RePEc:eee:ecmode:v:29:y:2012:i:3:p:900-907.

    Full description at Econpapers || Download paper

  31. Household Finance: An Emerging Field. (2012). Sodini, Paolo ; Guiso, Luigi.
    In: CEPR Discussion Papers.
    RePEc:cpr:ceprdp:8934.

    Full description at Econpapers || Download paper

  32. Risk sharing with the unborn. (2011). Mehlkopf, R. J..
    In: Other publications TiSEM.
    RePEc:tiu:tiutis:fe8a8df6-455f-4624-af10-94430843bfb5.

    Full description at Econpapers || Download paper

  33. Ageing and the Conflict of Interest Between Generations. (2011). Van der Horst, Albert ; de Mooij, Ruud ; Ewijk, Casper ; Draper, Nick.
    In: De Economist.
    RePEc:kap:decono:v:159:y:2011:i:3:p:257-278.

    Full description at Econpapers || Download paper

  34. Unemployment and Portfolio Choice: Does Persistence Matter?. (2011). Bremus, Franziska ; Kuzin, Vladimir.
    In: IAW Discussion Papers.
    RePEc:iaw:iawdip:77.

    Full description at Econpapers || Download paper

  35. Revisiting the composition puzzles of the household portfolio: New evidence. (2011). Jin, Fangyi.
    In: Review of Financial Economics.
    RePEc:eee:revfin:v:20:y:2011:i:2:p:63-73.

    Full description at Econpapers || Download paper

  36. Why Do Household Portfolio Shares Rise in Wealth?. (2010). Yogo, Motohiro ; Wachter, Jessica.
    In: The Review of Financial Studies.
    RePEc:oup:rfinst:v:23:y:2010:i:11:p:3929-3965.

    Full description at Econpapers || Download paper

  37. Why Do Household Portfolio Shares Rise in Wealth?. (2010). Yogo, Motohiro ; Wachter, Jessica.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:16316.

    Full description at Econpapers || Download paper

  38. Human Capital as an Asset Class: Implications from a General Equilibrium Model. (2010). Palacios, Miguel.
    In: Working Papers.
    RePEc:hka:wpaper:2011-016.

    Full description at Econpapers || Download paper

  39. Dynamic asset allocation with stochastic income and interest rates. (2010). Munk, Claus ; Sorensen, Carsten.
    In: Journal of Financial Economics.
    RePEc:eee:jfinec:v:96:y:2010:i:3:p:433-462.

    Full description at Econpapers || Download paper

  40. Lifetime consumption and investment: Retirement and constrained borrowing. (2010). Liu, Hong ; Dybvig, Philip.
    In: Journal of Economic Theory.
    RePEc:eee:jetheo:v:145:y:2010:i:3:p:885-907.

    Full description at Econpapers || Download paper

  41. Age, investing horizon and asset allocation. (2009). Dow, James.
    In: Journal of Economics and Finance.
    RePEc:spr:jecfin:v:33:y:2009:i:4:p:422-436.

    Full description at Econpapers || Download paper

  42. Are Stocks Really Less Volatile in the Long Run?. (2009). Stambaugh, Robert ; Pastor, Lubos.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:14757.

    Full description at Econpapers || Download paper

  43. Investing over the life cycle with long-run labor income risk. (2009). Chyruk, Olena ; Benzoni, Luca.
    In: Economic Perspectives.
    RePEc:fip:fedhep:y:2009:i:qiii:p:29-43:n:v.33no.3.

    Full description at Econpapers || Download paper

  44. Bonds versus stocks: Investors age and risk taking. (2009). Bali, Turan G. ; Demirtas, Ozgur K. ; Levy, Haim ; Wolf, Avner.
    In: Journal of Monetary Economics.
    RePEc:eee:moneco:v:56:y:2009:i:6:p:817-830.

    Full description at Econpapers || Download paper

  45. Time diversification: Definitions and some closed-form solutions. (2009). Smith, William T. ; Wu, Tao L. ; Chung, Kee H..
    In: Journal of Banking & Finance.
    RePEc:eee:jbfina:v:33:y:2009:i:6:p:1101-1111.

    Full description at Econpapers || Download paper

  46. Do Individual Investors Have Asymmetric Information Based On Work Experience?. (2009). Hvide, Hans ; Døskeland, Trond ; Doskeland, Trond.
    In: CEPR Discussion Papers.
    RePEc:cpr:ceprdp:7428.

    Full description at Econpapers || Download paper

  47. Are Stocks Really Less Volatile in the Long Run?. (2009). Stambaugh, Robert ; Pastor, Lubos.
    In: CEPR Discussion Papers.
    RePEc:cpr:ceprdp:7199.

    Full description at Econpapers || Download paper

  48. The Liabilities and Risks of State-Sponsored Pension Plans. (2009). Novy-Marx, Robert ; Rauh, Joshua D..
    In: Journal of Economic Perspectives.
    RePEc:aea:jecper:v:23:y:2009:i:4:p:191-210.

    Full description at Econpapers || Download paper

  49. Emergent and spontaneous computation of factor relationships from a large factor set. (2008). Wang, Zitian ; Tan, Shaohua.
    In: Journal of Economic Dynamics and Control.
    RePEc:eee:dyncon:v:32:y:2008:i:12:p:3939-3959.

    Full description at Econpapers || Download paper

  50. Saving and investing over the life cycle and the role of collective pension funds. (2007). Teulings, C. N. ; Nijman, T. E. ; Koijen, R. S. J., ; Bovenberg, A. L..
    In: Other publications TiSEM.
    RePEc:tiu:tiutis:6eab1341-eda5-4f21-8c06-8a235fd1d905.

    Full description at Econpapers || Download paper

Coauthors

Authors registered in RePEc who have wrote about the same topic

Report date: 2025-10-05 19:35:02 || Missing content? Let us know

CitEc is a RePEc service, providing citation data for Economics since 2001. Last updated August, 3 2024. Contact: Jose Manuel Barrueco.