Occupation-Level Income Shocks and Asset Returns: Their Covariance and Implications for Portfolio Choice
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This paper develops and applies a simple graphical approach to portfolio selection that accounts for covariance between asset returns and an investor's labor income. Our graphical approach easily handles income shocks that are partly hedgable, multiple risky assets, many periods and life cycle
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美国国家经济研究局创建时间：
2000-09-01
