Consumption and Portfolio Decisions When Expected Returns are Time Varying
收藏NBER1996-12-01 更新2025-01-04 收录
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https://www.nber.org/papers/w5857
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资源简介：
This paper proposes and implements a new approach to a classic unsolved problem in financial economics: the optimal consumption and portfolio choice problem of a long-lived investor facing time-varying investment opportunities. The investor is assumed to be infinitely-lived, to have recursive
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美国国家经济研究局创建时间：
1996-12-01
