Arbeitspapier
Optimal portfolio management for individual pension plans
We explore the various arguments for and against the recommendation that younger households should invest a larger share of their pension wealth in risky assets. The ability of young agents to compensate their financial losses by saving more during their career provides the strongest argument in favour of younger people investing more aggressively in the stock market. Meanreversion in stock returns yields another argument. However, the uninsurability of the risky human capital goes in the opposite direction, together with the imperfect knowledge that young investors have about the distribution of asset returns.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 1394
- Klassifikation
-
Wirtschaft
Portfolio Choice; Investment Decisions
- Thema
-
dynamic portfolio choice
pension plan
retirement
time horizon
Private Rentenversicherung
Kapitalanlage
Portfolio-Management
Lebensalter
Entscheidung bei Unsicherheit
Aktie
Verdienstausfall
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Gollier, Christian
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2005
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Gollier, Christian
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2005
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