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| DC Field | Value | Language |
|---|---|---|
| dc.contributor.author | Jang B.-G. | - |
| dc.contributor.author | Park S. | - |
| dc.contributor.author | Zhao H. | - |
| dc.date.accessioned | 2021-12-03T09:04:46Z | - |
| dc.date.available | 2021-12-03T09:04:46Z | - |
| dc.date.created | 2020-07-23 | - |
| dc.date.issued | 2020-09 | - |
| dc.identifier.issn | 0167-6687 | - |
| dc.identifier.uri | https://oasis.postech.ac.kr/handle/2014.oak/107846 | - |
| dc.description.abstract | In this paper, we study optimal retirement in a two-dimensional incomplete market caused by borrowing constraints and forced unemployment risk. We show that the two aspects jointly affect an individual's optimal consumption, investment, and retirement strategies. In contrast to the complete market case, the endogenously determined wealth threshold for retirement is significantly affected by the two-dimensional market incompleteness, resulting in a lower wealth threshold. We also discuss a possible unemployment insurance scheme for the borrowing-constrained individual to respond to the shocks of forced unemployment. (C) 2020 Elsevier B.V. All rights reserved. | - |
| dc.language | English | - |
| dc.publisher | ELSEVIER | - |
| dc.relation.isPartOf | INSURANCE MATHEMATICS & ECONOMICS | - |
| dc.title | Optimal retirement with borrowing constraints and forced unemployment risk | - |
| dc.type | Article | - |
| dc.identifier.doi | 10.1016/j.insmatheco.2020.06.002 | - |
| dc.type.rims | ART | - |
| dc.identifier.bibliographicCitation | INSURANCE MATHEMATICS & ECONOMICS, v.94, pp.25 - 39 | - |
| dc.identifier.wosid | 000568677900003 | - |
| dc.citation.endPage | 39 | - |
| dc.citation.startPage | 25 | - |
| dc.citation.title | INSURANCE MATHEMATICS & ECONOMICS | - |
| dc.citation.volume | 94 | - |
| dc.contributor.affiliatedAuthor | Jang B.-G. | - |
| dc.identifier.scopusid | 2-s2.0-85086702818 | - |
| dc.description.journalClass | 1 | - |
| dc.description.journalClass | 1 | - |
| dc.description.isOpenAccess | N | - |
| dc.type.docType | Article | - |
| dc.subject.keywordPlus | PORTFOLIO CHOICE | - |
| dc.subject.keywordPlus | LABOR INCOME | - |
| dc.subject.keywordPlus | OPTIMAL CONSUMPTION | - |
| dc.subject.keywordPlus | LIFE-CYCLE | - |
| dc.subject.keywordPlus | HOUSEHOLD CONSUMPTION | - |
| dc.subject.keywordPlus | UTILITY MAXIMIZATION | - |
| dc.subject.keywordPlus | SELECTION | - |
| dc.subject.keywordAuthor | Optimal retirement | - |
| dc.subject.keywordAuthor | Forced unemployment risk | - |
| dc.subject.keywordAuthor | Borrowing constraints | - |
| dc.subject.keywordAuthor | Dynamic programming | - |
| dc.subject.keywordAuthor | Icomplete market | - |
| dc.relation.journalWebOfScienceCategory | Economics | - |
| dc.relation.journalWebOfScienceCategory | Mathematics, Interdisciplinary Applications | - |
| dc.relation.journalWebOfScienceCategory | Social Sciences, Mathematical Methods | - |
| dc.relation.journalWebOfScienceCategory | Statistics & Probability | - |
| dc.description.journalRegisteredClass | scie | - |
| dc.description.journalRegisteredClass | ssci | - |
| dc.description.journalRegisteredClass | scopus | - |
| dc.relation.journalResearchArea | Business & Economics | - |
| dc.relation.journalResearchArea | Mathematics | - |
| dc.relation.journalResearchArea | Mathematical Methods In Social Sciences | - |
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Related Researcher
- 장봉규JANG, BONG GYU
- Dept. of Industrial & Management Eng.