The effects of pre-/post-retirement borrowing constraints on optimal consumption, investment, and retirement

DOI10.1007/S40314-023-02314-WzbMATH Open1524.91103OpenAlexW4367671176MaRDI QIDQ6161111FDOQ6161111

Authors Dayoon Kim, Yong Hyun Shin

Publication date 2 June 2023

Published in Computational and Applied Mathematics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s40314-023-02314-w

zbMATH Keywords

portfolio selectionvoluntary retirementconsumptionborrowing constraintsincomedynamic programming methods

Mathematics Subject Classification ID

Portfolio theory (91G10) Dynamic programming in optimal control and differential games (49L20)

Recommendations

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• scientific article; zbMATH DE number 2065141

Cites work

• A dynamic programming approach to a consumption/investment and retirement choice problem under borrowing constraints
• An optimal job, consumption/leisure, and investment policy
• Borrowing constraints, effective flexibility in labor supply, and portfolio selection
• DISUTILITY, OPTIMAL RETIREMENT, AND PORTFOLIO SELECTION
• Lifetime consumption and investment: retirement and constrained borrowing
• OPTIMAL PORTFOLIO, CONSUMPTION‐LEISURE AND RETIREMENT CHOICE PROBLEM WITH CES UTILITY
• Optimal Portfolio and Consumption Decisions for a “Small Investor” on a Finite Horizon
• Optimal consumption and portfolio policies when asset prices follow a diffusion process
• Optimal investment, consumption and retirement decision with disutility and borrowing constraints
• Optimal retirement strategy with a negative wealth constraint
• Optimum consumption and portfolio rules in a continuous-time model
• Reversible job-switching opportunities and portfolio selection
• Utility Maximization with Discretionary Stopping

Cited in

(2)

• Research and Reality: A Literature Review on Drawing Down Retirement Financial Savings
• Bankruptcy and retirement: a comparison in an optimal stopping times ordered framework

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