Optimal Life‐Cycle Asset Allocation: Understanding the Empirical Evidence

Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: A Theoretical Framework

1989 • 4,242 citations

Consumption Over the Life Cycle

2002 • 1,811 citations

Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis

1997 • 1,594 citations

Saving and Liquidity Constraints

1991 • 1,535 citations

Consumption and Portfolio Choice over the Life Cycle

2005 • 1,465 citations

The consumption of stockholders and nonstockholders

1991 • 1,223 citations

Capital Market Equilibrium with Transaction Costs

1986 • 1,172 citations

Portfolio Choice and Asset Prices: The Importance of Entrepreneurial Risk

2000 • 1,107 citations

Consumption and Portfolio Decisions when Expected Returns are Time Varying

1999 • 1,090 citations

The Buffer-Stock Theory of Saving: Some Macroeconomic Evidence

1992 • 1,076 citations

Limited Asset Market Participation and the Elasticity of Intertemporal Substitution

2002 • 1,012 citations

Precautionary Saving and Social Insurance

1995 • 983 citations

Portfolio Choice in the Presence of Housing

2004 • 956 citations

Owner-Occupied Housing and the Composition of the Household Portfolio

2002 • 850 citations

Strategic asset allocation

1997 • 784 citations

Optimal Portfolio Choice for Long‐Horizon Investors with Nontradable Labor Income

2001 • 774 citations

Wealth Inequality and Intergenerational Links

2004 • 739 citations

Evaluating the Effects of Incomplete Markets on Risk Sharing and Asset Pricing

1996 • 683 citations

Evaluating the effects of incomplete markets on risk sharing nad asset pricing

2010 • 666 citations

Who Should Buy Long-Term Bonds?

2001 • 651 citations

How Do Household Portfolio Shares Vary with Age

2000 • 628 citations

Income Risk, Borrowing Constraints, and Portfolio Choice

1996 • 615 citations

A multivariate model of strategic asset allocation

2002 • 593 citations

Stock-Market Participation, Intertemporal Substitution, and Risk-Aversion

2003 • 495 citations

Junior Can't Borrow: A New Perspective on the Equity Premium Puzzle

2002 • 478 citations

Transaction Costs and Asset Prices: A Dynamic Equilibrium model

1998 • 472 citations

Wealth Accumulation Over the Life Cycle and Precautionary Savings

2003 • 471 citations

An Equilibrium Model with Restricted Stock Market Participation

1998 • 444 citations

MARKET FRICTIONS, SAVINGS BEHAVIOR, AND PORTFOLIO CHOICE

1997 • 413 citations

Asset pricing with idiosyncratic risk and overlapping generations

2007 • 374 citations

Asset returns with transactions costs and uninsured individual risk

1991 • 342 citations

Asset‐pricing Puzzles and Incomplete Markets

1993 • 333 citations

Asset Pricing in Economies with Frictions

1996 • 323 citations

Asset Holding and Consumption Volatility

2002 • 286 citations

Asset pricing with undiversifiable income risk and short sales constraints

1994 • 286 citations

Optimal Asset Location and Allocation with Taxable and Tax‐Deferred Investing

2004 • 275 citations

Wealth and portfolio composition: Theory and evidence

1998 • 271 citations

Portfolio Choice and Liquidity Constraints*

2003 • 268 citations

Household Portfolios

2002 • 260 citations

Optimal Consumption and Investment with Capital Gains Taxes

2001 • 260 citations

Consumption and Portfolio Selection with Labor Income: A Continuous Time Approach

1998 • 256 citations

The Importance of Bequests and Life-Cycle Saving in Capital Accumulation: A New Answer

2002 • 250 citations

Market Frictions and Consumption-Based Asset Pricing

1995 • 246 citations

Risk Aspects of Investment-Based Social Security Reform

2001 • 212 citations

Precautionary portfolio behavior from a life-cycle perspective

1997 • 195 citations

Asset Pricing with Idiosyncratic Risk and Overlapping Generations

2000 • 165 citations

Investing Retirement Wealth: A Life-Cycle Model

2000 • 164 citations

Portfolio choice with internal habit formation: a life-cycle model with uninsurable labor income risk

2003 • 148 citations

Portfolio Choice in the Presence of Housing

2001 • 107 citations

Does Buffer-Stock Saving Explain the Smoothness and Excess Sensitivity of Consumption?

2001 • 103 citations

What Level of Fixed Costs Can Reconcile Consumption and Stock Returns?

1999 • 90 citations

Household Portfolio Allocation Over the Life Cycle

2001 • 86 citations

Optimal Asset Location and Allocation with Taxable and Tax-Deferred Investing

2001 • 86 citations

Selling company shares to reluctant employees: France Telecom's experience

2003 • 73 citations

Wealth Inequality and Altruistic Bequests

2002 • 59 citations

Household Portfolios: An International Comparison

2000 • 50 citations

Borrowing Costs and the Demand for Equity Over the Life Cycle

2002 • 32 citations

Borrowing Costs and the Demand for Equity Over the Life Cycle

2003 • 30 citations

Life-Cycle Portfolio Choice with Additive Habit Formation Preferences and Uninsurable Labor Income Risk

2003 • 27 citations

Social security and institutions for intergenerational, intragenerational, and international risk-sharing

1999 • 25 citations

Wealth Inequality and Intergenerational Links

2002 • 24 citations