risks in retirement. Our life cycle model captures these links in order to explain why homeownership in Germany is so low …. Our simulation results indicate that the public long-term care as well as the pension system reduce the homeownership rate …

Using a quantitative life cycle model, we study the impact of access to fractional homeownership on individuals …' optimal consumption, savings, and housing decisions. Fractional homeownership means that two parties - an individual and an … fractional homeownership is most attractive to particularly young and old individuals. Further, it leads to earlier housing …

or long-term unemployment, may occur during working years. Personal disaster risk alters lifetime ex-ante investment … characterizes rare disasters, results in lower risk-taking at the beginning of working life, and is crucial in order to match the …

disastrous income risk. We first empirically explore the relations among consumption changes, aggregate income, disaster shock … income risk to which the agent is exposed and her income recovery post disaster jointly affect the agent's optimal decisions …