The Endowment Model and Modern Portfolio Theory
收藏NBER2019-02-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w25559
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资源简介：
We develop a dynamic portfolio-choice model with illiquid alternative assets to analyze the endowment model, widely adopted by institutional investors such as pension funds, university endowments, and sovereign wealth funds. In the model, the alternative asset has a lock-up, but can be liquidated at
提供机构：
美国国家经济研究局
创建时间：
2019-02-01
