Blar i NHH Brage på emneord "EIS"
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Optimal spending of a wealth fund in the discrete time life cycle model
(Discussion paper;7/23, Working paper, 2023-06-09)The paper analyses optimal spending of an endowment fund. We use the life cycle model for both expected utility and recursive utility in discrete time. First we find the optimal consumption and investment policies for both ... -
The optimal spending rate versus the expected real return of a sovereign wealth fund
(Discussion paper;1/21, Working paper, 2021-02-04)We consider a sovereign wealth fund that invests broadly in the international financial markets. The influx to the fund has stopped. We adopt the life cycle model and demonstrate that the optimal spending rate from the ...