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Lifecycle Impacts of the Financial and Economic Crisis on Household Optimal Consumption, Portfolio Choice, and Labor Supply

Chai, Jingjing - 2011

The direct financial impact of the financial crisis has been to deal a heavy blow to investment-based pensions; many … economic shocks, and it also explores how people may react by changing their consumption, saving and investment, work and …-varying investment opportunities and countercyclical risky labor income dynamics. We show that households near retirement will reduce …

Persistent link: https://www.econbiz.de/10013123696

Optimal Life Cycle Portfolio Choice with Variable Annuities Offering Liquidity and Investment Downside Protection

Horneff, Vanya - 2013

We evaluate lifecycle consumption and portfolio allocation patterns resulting from access to Guaranteed Minimum Withdrawal Benefit (GMWB) variable annuities, one of the most rapidly-growing financial innovations over the last two decades. A key feature of these products is that they offer access...

Persistent link: https://www.econbiz.de/10013079212

The Effect of Uncertain Labor Income and Social Security on Life-Cycle Portfolios

Maurer, Raimond - 2010

This paper examines how labor income volatility and social security benefits can influence lifecycle household portfolios. We examine how much the individual optimally saves and where, taking into account liquid financial wealth and annuities, and stocks as well as bonds. Higher labor income...

Persistent link: https://www.econbiz.de/10013148650