Information acquisition and asset allocation with unknown income growth

被引：1
|
作者：
Wang, Yuanping [1 ]
Wang, Dongfang [2 ,3 ]
Hou, Chunxiao [2 ]
机构：
[1] Shanxi Univ Finance & Econ, Sch Finance, Taiyuan 030006, Peoples R China
[2] Shanghai Univ Finance & Econ, Sch Finance, Shanghai 200433, Peoples R China
[3] Jiaxing Univ, Coll Data Sci, Jiaxing 314001, Peoples R China
来源：
ECONOMICS LETTERS | 2022年 / 213卷
基金：
中国博士后科学基金;
关键词：
Information acquisition; Learning; Income growth; Consumption; Risky asset; LABOR INCOME;
D O I：
10.1016/j.econlet.2022.110364
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We study the learning effects on consumption-portfolio rules with costly financial information acquisition and find that the agent's acquiring information induces an additional demand for risky asset which is positively related to the degree of uncertainty about the income growth. (C) 2022 Elsevier B.V. All rights reserved.
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页数：6
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