Abstract
In this paper I derive semi-analytical solutions to the problem of finding the optimal consumption and asset allocation decisions post-retirement. I assume the preference of retirees follow HARA type of utility function, with joint consideration of a bequest motive, housing and publicly provided age pension. The results are close to those derived with numerical dynamic programming, but with a clear advantage in computation time.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
