unique under full insurance. If investment is fully insured but unemployment risk is uninsured, the precautionary saving … multiplicity and promote risky investment. prudence, temperance, precautionary saving, portfolio choice …

Consumption-CAPM literature …

This paper studies why investors buy dividend-paying assets and how they time their consumption accordingly. We combine … administrative bank data linking customers' consumption transactions and income to detailed portfolio data and survey responses on … financial behavior. We find that private consumption is excessively sensitive to dividend income. Investors across wealth …

In this paper we deal with the basic two-period consumption saving problem where the first and second period … consumption utility, respectively v and u is assumed to be concave as usually. Considering the usual assumption of identity of u …

In this paper we extend the traditional life cycle model of saving and portfolio choice to allow for possible long …