| Description |
1 online resource (xii, 257 pages) : illustrations |
| Series |
Clarendon Lectures in Economics |
|
Clarendon lectures in economics.
|
| Contents |
1. Introduction -- 2. Myopic portfolio choice -- 2.1. Short-term portfolio choice -- 2.2. Myopic long-term portfolio choice -- 2.3. Conclusion -- 3. Who should buy long-term bonds? -- 3.1. Long-term portfolio choice in a model with constant variances and risk premia -- 3.2. A Model of the term structure of interest rates -- 3.3. Conclusion: bonds, James, bonds -- 4. Is the Stock Market safer for long-term investors? -- 4.1. Long-term portfolio choice in a VAR model -- 4.2. Stock and bond market risk in historical US data -- 4.3. Conclusion -- 5. Strategic asset allocation in continuous time -- 5.1. The dynamic programming approach -- 5.2. The martingale approach -- 5.3. Recursive utility in continuous time -- 5.4. Should long-term Investors hedge volatility risk? -- 5.5. Parameter uncertainty and portfolio choice -- 5.6. Conclusion -- 6. Human wealth and financial wealth -- 6.1. Single-period models with labor income -- 6.2. Labor income, precautionary savings, and long-horizon portfolio choice -- 6.3. Conclusion -- 7. Investing over the life cycle -- 7.1. What do we know about household-asset allocation? -- 7.2. A life-cycle model of portfolio choice -- 7.3. Conclusion |
| Summary |
This volume offers a scientific foundation for the advice offered by financial planners to long-term investors. It gives statistical evidence on asset return behaviour, and, based on assumed investor objectives, derives optimal portfolio rules |
| Analysis |
activa |
|
assets |
|
voorraden |
|
stocks |
|
investeringsplannen |
|
investment planning |
|
pensioeninkomsten |
|
retirement income |
|
besparingen |
|
savings |
|
inflatie |
|
inflation |
|
rendement |
|
returns |
|
risicoschatting |
|
risk assessment |
|
Social Security |
|
Financial Sector |
|
Sociale zekerheid |
| Bibliography |
Includes bibliographical references (pages 226-240) and indexes |
| Notes |
English |
|
Print version record |
| Subject |
Asset allocation.
|
|
Portfolio management.
|
|
Investments.
|
|
Investments
|
|
Asset allocation
|
|
Investments
|
|
Portfolio management
|
| Form |
Electronic book
|
| Author |
Viceira, Luis M.
|
|
Oxford University Press
|
| ISBN |
0198296940 |
|
9780198296942 |
|
9780191596049 |
|
0191596043 |
|
9780191606915 |
|
019160691X |
|
