Who Should Buy Long-Term Bonds?

This paper developes a model of optimal consumption and portfolio choice for infinitely-lived investors facing stochastic interest rates, solve it using an approximate analytical method, and evaluate the conventional wisdom.

MoreLess

Year of publication:	1998-10-01
Authors:	Campell, John Y. ; Viceira, Luis
Publisher:	International Center for Financial Asset Management and Engineering (FAME)
Subject:	Zinsvariable Anleihe \| Portfolio Selection \| Festverzinsliches Wertpapier \| Langfristige Finanzierung \| long-term financing \| Zinsstruktur \| Term structure model

Open Access

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

Table of Contents
More details

1. Introduction
2. A two-factor model of the term structure of nominal interest rates
3. The demand of indexed bonds
4. The demand of nominal bonds
5. Conclusion

Persistent link: https://www.econbiz.de/10005843120