Portfolio Choice with Illiquid Assets
收藏NBER2013-09-01 更新2025-01-04 收录
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https://www.nber.org/papers/w19436
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We present a model of optimal allocation over liquid and illiquid assets, where illiquidity is the restriction that an asset cannot be traded for intervals of uncertain duration. Illiquidity leads to increased and state-dependent risk aversion, and reduces the allocation to both liquid and illiquid
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美国国家经济研究局创建时间：
2013-09-01
