Portfolio Choice in The Presence of Background Risk  

Oleh:

Heaton, John ; Lucas, Deborah

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 110 no. 460 (2000), page 1-26.
Topik: risks; portfolio; presence; background risk
Fulltext: 1.pdf (346.38KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: EE28.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

In this paper, we focus on how the presence of background risks - from sources such as labour and entrepreneurial income - influences portfolio allocations. This interaction is explored in a theoretical model that is calibrated using cross - sectional data from a variety of sources. The model is shown to be consistent with some but not all aspects of cross - sectional observations of portfolio holdings. The paper also provides a survey of the extensive theoretical and empirical literature on portfolio choice.

Opini Anda

Klik untuk menuliskan opini Anda tentang koleksi ini!

Kembali