| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15682 |
| 来源ID | Working Paper 15682 |
| The Effect of Uncertain Labor Income and Social Security on Life-cycle Portfolios | |
| Raimond Maurer; Olivia S. Mitchell; Ralph Rogalla | |
| 发表日期 | 2010-01-21 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | This paper examines how labor income volatility and social security benefits can influence lifecycle household portfolios. We examine how much the individual optimally saves and where, taking into account liquid financial wealth and annuities, and stocks as well as bonds. Higher labor income uncertainty and lower old-age benefits boost demand for stable income in retirement, but also when young. In addition, a declining equity glide path with age is appropriate for the worker with low income uncertainty; for the high income risk worker, equity exposure rises until retirement. We also evaluate how differences in social security benefits can influence retirement risk management. |
| 主题 | Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Institutions ; Public Economics ; National Fiscal Issues ; Labor Economics ; Demography and Aging ; Labor Supply and Demand |
| URL | https://www.nber.org/papers/w15682 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/573355 |
| 推荐引用方式 GB/T 7714 | Raimond Maurer,Olivia S. Mitchell,Ralph Rogalla. The Effect of Uncertain Labor Income and Social Security on Life-cycle Portfolios. 2010. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15682.pdf（240KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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