In this paper, we present a review of tax research. We survey four main areas of the
literature:(1) the informational role of income tax expense reported for financial …

This article reviews tax research related to domestic and multinational capital structure,
payout policy, compensation policy, risk management, and organizational form. For each …

The study of household finance is challenging because household behavior is difficult to
measure, and households face constraints not captured by textbook models. Evidence on …

This short volume originates in the need to provide a scientific foundation for the advice
offered by financial planners to long-term investors-individuals saving for retirement, or …

This article solves a realistically calibrated life cycle model of consumption and portfolio
choice with non-tradable labor income and borrowing constraints. Since labor income …

Using pooled cross-sectional data from the Surveys of Consumer Finances, and new panel
data from TIAA-CREF, we examine the empirical relationship between age and portfolio …

Using proprietary financial data on millions of households, we show that likely‐Republicans
increased the equity share and market beta of their portfolios following the 2016 presidential …

Optimization methods play a central role in financial modeling. This textbook is devoted to
explaining how state-of-the-art optimization theory, algorithms, and software can be used to …

We show that a life‐cycle model with realistically calibrated uninsurable labor income risk
and moderate risk aversion can simultaneously match stock market participation rates and …

We examine the optimal dynamic portfolio decisions for investors who acquire housing
services from either renting or owning a house. Our results show that when indifferent …