Why Should Older People Invest Less in Stocks Than Younger People?

Optimum consumption and portfolio rules in a continuous-time model

1971 • 6,065 citations

Permanent and Temporary Components of Stock Prices

1988 • 3,149 citations

The Conditional CAPM and the Cross‐Section of Expected Returns

1996 • 2,497 citations

Dividend Yields and Expected Stock Returns: Alternative Procedures for Inference and Measurement

1992 • 1,304 citations

Labor supply flexibility and portfolio choice in a life cycle model

1992 • 1,143 citations

The Equity Premium: It's Still a Puzzle

1996 • 882 citations

The Equity Premium: It's Still a Puzzle

1995 • 608 citations

Dividend yields and expected stock returns: alternative procedures for inference and measurement

1992 • 607 citations

MARKET FRICTIONS, SAVINGS BEHAVIOR, AND PORTFOLIO CHOICE

1997 • 413 citations

Stocks, bonds, bills, and inflation yearbook

1993 • 385 citations

A random walk down Wall Street: including a life-cycle guide to personal investing

1996 • 242 citations

On the quantitative importance of market completeness

1994 • 124 citations

Making the most of your money : smart ways to create wealth and plan your finances in the '90s

1991 • 7 citations