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The paper investigates by means of cointegration analysis whether the recently observed low levels of private saving … turns out to be the main dampening factor of private saving during the nineties. Unlike the current account deficit, which … reflects low saving, higher growth with respect to the rest of the world and the high dollar, private saving is much lower than …
Persistent link: https://www.econbiz.de/10011475984
saving choices in an uncertain world, and applies that model to analyze the effects of the stock market bubble on retirement …
Persistent link: https://www.econbiz.de/10014093130
The paper investigates by means of cointegration analysis whether the recently observed low levels of private saving … turns out to be the main dampening factor of private saving during the nineties. Unlike the current account deficit, which … reflects low saving, higher growth with respect to the rest of the world and the high dollar, private saving is much lower than …
Persistent link: https://www.econbiz.de/10010260556
Persistent link: https://www.econbiz.de/10009713061
Persistent link: https://www.econbiz.de/10003353469
Persistent link: https://www.econbiz.de/10001417317
Persistent link: https://www.econbiz.de/10001641813
Persistent link: https://www.econbiz.de/10002648034
Persistent link: https://www.econbiz.de/10003352847
This paper analyzes optimal portfolio choice and consumption with stochastic volatility in incomplete markets. Using the Duffie-Epstein (1992) formulation of recursive utility in continuous time, it shows that the optimal portfolio demand for stocks under stochastic volatility varies strongly...
Persistent link: https://www.econbiz.de/10012471407