Post, Thomas; Gründl, Helmut; Schmit, Joan; Zimmer, Anja - Sonderforschungsbereich 649: Ökonomisches Risiko, … - 2008
deterministic (government) pension income that stays constant in real
terms. Thus, the retirement age is exogenously fixed at age … doubling cash on hand and
expected labor income, the asset allocation stays constant, if expected labor income
is doubled in …-cycle
consumption/saving/asset allocation model with stochastic uninsurable labor income,
asset returns, and life span. Finally, we …