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

An Intertemporal Capital Asset Pricing Model

1973 • 6,653 citations

The Econometrics of Financial Markets

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Optimum consumption and portfolio rules in a continuous-time model

1971 • 6,065 citations

The equity premium: A puzzle

1985 • 5,686 citations

Lifetime Portfolio Selection under Uncertainty: The Continuous-Time Case

1969 • 5,148 citations

The Econometrics of Financial Markets

1997 • 4,951 citations

Debt, Deficits, and Finite Horizons

1985 • 2,298 citations

Theory of Financial Decision Making.

1988 • 2,039 citations

LIFETIME PORTFOLIO SELECTION BY DYNAMIC STOCHASTIC PROGRAMMING

1975 • 1,863 citations

Precautionary Saving in the Small and in the Large

1990 • 1,670 citations

Lifetime Portfolio Selection By Dynamic Stochastic Programming

1969 • 1,665 citations

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

1997 • 1,594 citations

Saving and Liquidity Constraints

1991 • 1,535 citations

Investing for the Long Run when Returns Are Predictable

2000 • 1,395 citations

Labor supply flexibility and portfolio choice in a life cycle model

1992 • 1,143 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

The use of time series processes to model the error structure of earnings in a longitudinal data analysis

1982 • 887 citations

The nature of precautionary wealth

1997 • 821 citations

Strategic asset allocation

1997 • 784 citations

Risk Vulnerability and the Tempering Effect of Background Risk

1996 • 742 citations

Who Should Buy Long-Term Bonds?

2001 • 651 citations

Standard Risk Aversion

1993 • 642 citations

On the Covariance Structure of Earnings and Hours Changes

1989 • 623 citations

Income Risk, Borrowing Constraints, and Portfolio Choice

1996 • 615 citations

Proper Risk Aversion

1987 • 536 citations

Dynamic Nonmyopic Portfolio Behavior

1996 • 496 citations

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

2002 • 478 citations

Estimating Portfolio and Consumption Choice: A Conditional Euler Equations Approach

1999 • 436 citations

MARKET FRICTIONS, SAVINGS BEHAVIOR, AND PORTFOLIO CHOICE

1997 • 413 citations

Changes in Background Risk and Risk Taking Behavior

1996 • 353 citations

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

1996 • 334 citations

Risk and return in finance

1977 • 275 citations

Concavity of the Consumption Function with

2014 • 258 citations

Human capital and capital market equilibrium

1977 • 244 citations

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

1996 • 242 citations

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

1997 • 235 citations

Government debt and social security in a life-cycle economy

1999 • 206 citations

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

1998 • 165 citations

An Asset Allocation Puzzle

1994 • 164 citations

Struggling to Understand the Stock Market

2001 • 160 citations

Nontraded assets in incomplete markets

1993 • 142 citations

Taxation of Labor Income and the Demand for Risky Assets

2000 • 104 citations

Predictive Distributions Based on Longitudinal Earnings Data

1999 • 78 citations

Consumption Over the Life Cycle

1997 • 49 citations

Predictive Distributions based on Longitudinal Earnings Data

1999 • 39 citations

Precautionary saving and portfolio allocation: DP by GMM

2001 • 33 citations

Consumption and Portfolio Choice over the Life-Cycle

1998 • 30 citations

Stock Market Mean Reversion And The Optimal Equity Allocation Of A Long-Lived Investor

2000 • 19 citations

Nontraded assets and the CAPM

1994 • 11 citations

Stock Market Mean Reversion and the Optimal Equity Allocation of a Long-Lived Investor

2000 • 8 citations