The effects of pre|/post|retirement borrowing constraints on optimal ...
The effects of pre-/post-retirement borrowing constraints on optimal ...
We demonstrate that when pre-retirement borrowing constraints are strict, the agent retires early, while strong post-retirement borrowing constraints result in ...
The effects of pre-/post-retirement borrowing constraints on optimal ...
However, in certain cases with borrowing constraints, the declining effects of pre-/post-retirement discounted income strongly influence the ...
The effects of pre-/post-retirement borrowing constraints on optimal ...
Request PDF | The effects of pre-/post-retirement borrowing constraints on optimal consumption, investment, and retirement | In this paper, we explore an ...
The effects of pre-/post-retirement borrowing constraints on optimal ...
Additionally, the agent can partially borrow against her future income before/after retirement. We demonstrate that when pre-retirement borrowing constraints ...
[PDF] The effects of pre-/post-retirement borrowing constraints on ...
In this paper, we explore an optimization problem in which a working agent with an option to retire wants to maximize her expected lifetime utility.
The impact of liquidity constraints and cashflows on the optimal ...
We show that pre- and post-retirement constraints have opposite effects on optimal wealth threshold of retirement. Moreover, pre-retirement constraints do not ...
The effects of pre-/post-retirement downside ... - IDEAS/RePEc
We obtain the closed-form solutions using the martingale method and analyze the effect of the constraints on the optimal policies. We observe that the ...