Search Results

No results found.

(refine search)
SORT BY: PREVIOUS / NEXT
Author:Wang, Haijun 

Working Paper
Ignorance, Uncertainty, and Strategic Consumption-Portfolio Decisions

This paper constructs a recursive utility version of a canonical Merton (1971) model with uninsurable labor income and unknown income growth to study how the interaction between two types of uncertainty due to ignorance affects strategic consumption-portfolio rules and precautionary savings. Specifically, after solving the model explicitly, we theoretically and quantitatively explore (i) how these ignorance-induced uncertainties interact with intertemporal substitution, risk aversion, and the correlation between the equity return and labor income, and (ii) how they jointly affect strategic ...
Research Working Paper , Paper RWP 17-13

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

Luo, Yulei 1 items

Nie, Jun 1 items

FILTER BY Jel Classification

C61 1 items

D81 1 items

E21 1 items

PREVIOUS / NEXT