The Research of Household Asset Allocation Model Based on Life Cycle Theory

摘要：

　　This study set up the family asset allocation model based on life cycle theory.We solve the family asset allocation problem by using the method of dynamic programming.And we got the optimal decision of family asset allocation of our country urban households in different stages of the life cycle.The results show that the consumption of Chinese urban households in line with the life cycle hypothesis, whether the family own a house in the early of the life cycle is significantly affect the family asset allocation decisions.When risk appetite changed, family in different stages of life cycle had different decisions.Housing preference has a certain crowding out effect on the holding of risky assets.

关键词： household finance life cycle theory family assets allocation dynamic programming

作者: LIU Yan-wen YANG Ye-qing

作者单位: School of Management, Dalian University of Technology, Dalian, China, 116024

会议类型: 国际会议

会议名称: The 9th (2017)International Conference on Financial Risk and Corporate Finance Management(第九届(2017)金融风险与公司金融国际研讨会)

会议地点: 日本

会议语种:英文

页码: 387-396

在线出版日期: 2017-07-01（万方平台首次上网日期，不代表论文的发表时间）