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Labor Income Dynamics at Business-Cycle Frequencies: Implications for Portfolio Choice

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NBER2004-12-01 更新2025-01-04 收录
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https://www.nber.org/papers/w11010
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资源简介:
A large recent literature has focused on multiperiod portfolio choice with labor income, and while the models are elaborate along several dimensions, they all assume that the joint distribution of shocks to labor income and asset returns is i.i.d.. Calibrating this joint distribution to U.S. data,
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2004-12-01
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