Cai, Mingchao; Zhao, Jun; Pan, Rulu; Huang, Haozhi - In: China Finance Review International 3 (2013) April, pp. 117-130
Purpose – The purpose of this paper is to empirically analyze the relationship between risky asset allocation and background risk of Chinese residents. Design/methodology/approach – Using Chinese macroeconomic data, this study uses numerical method to solve dynamic stochastic optimal...
