Asset Pricing and Optimal Portfolio Choice in the Presence of Illiquid Durable Consumption Goods
收藏NBER1987-08-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w2369
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资源简介：
We analyze a model of optimal consumption and portfolio selection in which consumption services are generated by holding a durable good. The durable good is illiquid in that a transaction cost must be paid when the good is sold. It is shown that optimal consumption is not a smooth function of wealth
提供机构：
美国国家经济研究局
创建时间：
1987-08-01
