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Chapitre d'ouvrage

Optimal portfolio management for individual pension plans

Abstract : 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.
Mots-clés : PENSION PLAN RETIREMENT
Type de document :
Chapitre d'ouvrage
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https://hal.inrae.fr/hal-02815957
Déposant : Migration Prodinra <>
Soumis le : samedi 6 juin 2020 - 13:27:07
Dernière modification le : vendredi 12 juin 2020 - 10:43:26

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  • HAL Id : hal-02815957, version 1
  • PRODINRA : 15131

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Citation

Christian Gollier. Optimal portfolio management for individual pension plans. Pension strategies in Europe and the United States, MIT Press, 2008, 978-0-262-06272-5. ⟨hal-02815957⟩

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