Portfolio Choice over the Life-Cycle in the Presence of 'Trickle Down' Labor Income
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https://www.nber.org/papers/w11247
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资源简介：
Empirical evidence shows that changes in aggregate labor income and stock market returns exhibit only weak correlation at short horizons. As we document below, however, this correlation increases substantially at longer horizons, which provides at least suggestive evidence that stock returns and
提供机构：
美国国家经济研究局
创建时间：
2005-04-01
