exponential utility allows us to derive an explicit relationship between optimal money holdings, the household?s desire to tilt …, smooth and stabilize consumption as well as minimize portfolio risk. In this context we also show how the correlation between …We analyse how money as a store of value affects the decisions of a representative household under diversifiable and …

's desire to tilt, smooth and stabilize consumption as well as minimize portfolio risk. In this context we also show how the …We analyse how money as a store of value affects the decisions of a representative household under diversifiable and …. Assuming exponential utility allows us to derive an explicit relationship between optimal money holdings, the household …

's desire to tilt, smooth and stabilize consumption as well as minimize portfolio risk. In this context we also show how the …We analyse how money as a store of value affects the decisions of a representative household under diversifiable and …. Assuming exponential utility allows us to derive an explicit relationship between optimal money holdings, the household …

, smooth and stabilize consumption as well as minimize portfolio risk. In this context we also show how the correlation between …We analyse how money as a store of value affects the decisions of a representative household under diversifiable and … exponential utility allows us to derive an explicit relationship between optimal money holdings, the household's desire to tilt …

Assuming a risk-neutral bank and assuming household utility to be exponential, we show how under information symmetry … the covariance of income and loan repayments may explain higher household borrowings than in the case without default … that in a situation in which a household without default option would neither borrow nor save, the existence of a default …

, middle-income households reduce (controllable) financial risk. Richer households, having less pressure, can afford more risk …-taking. The poor take low risk because they avoid jeopardizing their subsistence consumption. …In fifteen European countries, China, and the US, stocks and business equity as a share of total household assets are …

Assuming a risk-neutral bank and assuming household utility to be exponential, we show how under information symmetry … the covariance of income and loan repayments may explain higher household borrowings than in the case without default … that in a situation in which a household without default option would neither borrow nor save, the existence of a default …

Assuming a risk-neutral bank and assuming household utility to be exponential, we show how under information symmetry … the covariance of income and loan repayments may explain higher household borrowings than in the case without default … that in a situation in which a household without default option would neither borrow nor save, the existence of a default …

This paper tests the long run risk and valuation risk model using a robust estimation procedure. The persistent long … run component of consumption growth process is proxied by a news based index that is created using a random forest … algorithm. This news index is shown to predict aggregate long term consumption growth with an R-square of 57% and is robust to …