Portfolio choice with internal habit formation : a life-cycle model with uninsurable labor income risk

By Francisco Gomes, Alexander Michaelides. 2003

125 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/45a441e4a757db8c1ddeab6aa206c25ab9fc7049

Citations in the corpus

• Why Do Household Portfolio Shares Rise in Wealth (2010, unknown): “Third, internal habit formation can induce a strong motive to save in bonds early in life, crowding out stocks from the household’s portfolio (Gomes and Michaelides, 2003; Polkovnichenko, 2007).”
• Portfolio Choice Problems (2010, unknown): “These non-expected utility preferences have been applied to portfolio choice problems by Benartzi and Thaler (1995), Shefrin and Statman (2000), Aı̈t-Sahalia and Brandt (2001), Liu (2002b), Ang, Bekaert, and Liu (2003), and Gomes (2003), among others.”
• Asset Market Participation and Portfolio Choice over the Life-Cycle (2012, unknown): “…and Goldstein (2007), Campbell and Viceira (2001), Cocco, Gomes, and Maenhout (2005), Davis, Kubler, and Willen (2006), Gakidis (1998), Gomes and Michaelides (2003, 2005), Gomes, Kotlikoff, and Viceira (2008), Haliassos and Michaelides (2002), Heaton and Lucas (1997), Polkovnichenko…”
• Optimal life cycle asset allocation : understanding the empirical evidence (2003, unknown): “…Cocco, Gomes and Maenhout (1999), Cocco (2000), Campbell, Cocco, Gomes and Maenhout (2001), Hu (2001), Storesletten, Telmer and Yaron (2001), Davis, Kubler and Willen (2002), Dammon, Spatt and Zhang (2001 and 2002), Polkovnichenko (2002), Yao and Zhang (2002) and Gomes and Michaelides (2003).”
• Heterogeneity and Portfolio Choice: Theory and Evidence (2004, unknown): “More recently, Gomes and Michaelides (2003) show that in a life cycle model with steeply sloping age income profiles for young workers, it is relatively easy to explain non-participation.”