Alexander Michaelides

Imperial College Business School

Professor

South Kensington Campus

Exhibition Road

London SW7 2AZ, SW7 2AZ

United Kingdom

Centre for Economic Policy Research (CEPR)

Research Affiliate

London

United Kingdom

  • Imperial College Business School

SCHOLARLY PAPERS

47

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Scholarly Papers (47)

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1.

Portfolio Choice and Liquidity Constraints

Downloads 1,018 (37,456)
Citation 71

Portfolio Choice and Liquidity Constraints

Number of pages: 41 Posted: 03 Jan 2000
Alexander Michaelides and Michael Haliassos
Imperial College Business School and Goethe University Frankfurt - Faculty of Economics and Business Administration
Downloads 996 (38,073)
Citation 5

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Portfolio Choice and Liquidity Constraints

Number of pages: 47 Posted: 07 Jun 2001
Alexander Michaelides and Michael Haliassos
Imperial College Business School and Goethe University Frankfurt - Faculty of Economics and Business Administration
Downloads 22 (864,301)
Citation 13
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Buffer stock saving, entry costs, liquidity constraints, portfolio choice, precautionary saving

2.

Calibration and Computation of Household Portfolio Models

University of Cyprus Department of Economics Working Paper No. 00-04
Number of pages: 55 Posted: 16 Oct 2000
Alexander Michaelides and Michael Haliassos
Imperial College Business School and Goethe University Frankfurt - Faculty of Economics and Business Administration
Downloads 881 (45,838)
Citation 5

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Precautionary saving, portfolio choice, liquidity constraints, preference specifications, buffer stock saving, calibration, computational methods

3.

Tactical Target Date Funds

Downloads 843 (48,776)
Citation 10

Tactical Target Date Funds

Number of pages: 70 Posted: 16 Jul 2018 Last Revised: 14 Dec 2020
Francisco Gomes, Alexander Michaelides, Yuxin Zhang and Yuxin Zhang
London Business School, Imperial College Business School and Renmin University of ChinaRenmin University of China
Downloads 838 (48,459)
Citation 2

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target date funds, life cycle portfolio choice, retirement savings, variance risk premium, strategic asset allocation, tactical asset allocation, market timing

Tactical Target Date Funds

CEPR Discussion Paper No. DP13019
Number of pages: 46 Posted: 03 Jul 2018
Francisco Gomes, Alexander Michaelides, Yuxin Zhang and Yuxin Zhang
London Business School, Imperial College Business School and Renmin University of ChinaRenmin University of China
Downloads 5 (1,033,859)
Citation 1
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life cycle portfolio choice, market timing., retirement savings, strategic asset allocation, tactical asset allocation, Target date funds, variance risk premium

4.

The Adverse Effects of Systematic Leakage Ahead of Official Sovereign Debt Rating Announcements

Downloads 669 (66,349)
Citation 13

The Adverse Effects of Systematic Leakage Ahead of Official Sovereign Debt Rating Announcements

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 81 Posted: 17 Dec 2011 Last Revised: 16 Sep 2014
Alexander Michaelides, Andreas Milidonis, George Nishiotis and Panayiotis Papakyriakou
Imperial College Business School, University of Cyprus - Department of Accounting and Finance, University of Cyprus-Faculty of Economics and Management-Department of Accounting and Finance and University of Southampton - Department of Banking and Finance
Downloads 660 (66,591)
Citation 13

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sovereign ratings, event studies, institutional quality, information leakage, TRMI

Sovereign Debt Rating Changes and the Stock Market

CEPR Discussion Paper No. DP8743
Number of pages: 54 Posted: 20 Jan 2012
Alexander Michaelides, Andreas Milidonis, George Nishiotis and Panayiotis Papakyriakou
Imperial College Business School, University of Cyprus - Department of Accounting and Finance, University of Cyprus-Faculty of Economics and Management-Department of Accounting and Finance and University of Southampton - Department of Banking and Finance
Downloads 9 (996,497)
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event studies, institutional quality., international finance, sovereign ratings

5.

Optimal Life-Cycle Asset Allocation: Understanding the Empirical Evidence

Downloads 605 (75,292)
Citation 275

Optimal Life-Cycle Asset Allocation: Understanding the Empirical Evidence

Number of pages: 50 Posted: 26 May 2003
Francisco Gomes and Alexander Michaelides
London Business School and Imperial College Business School
Downloads 573 (79,621)
Citation 6

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Life-Cycle Models, Portfolio Choice, Preference Heterogeneity, Liquidity Constraints, Stock Market Participation, Uninsurable Labor Income Risk

Optimal Life-Cycle Asset Allocation: Understanding the Empirical Evidence

Number of pages: 65 Posted: 11 May 2005
Francisco Gomes and Alexander Michaelides
London Business School and Imperial College Business School
Downloads 32 (777,297)
Citation 53
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Life-cycle models, portfolio choice, preference heterogeneity, liquidity constraints, stock market participation, uninsurable labor income risk

6.

Inflation, Money Demand and Portfolio Choice

Downloads 579 (79,575)
Citation 2

Inflation, Money Demand and Portfolio Choice

Netspar Discussion Paper No. 02/2014-101
Number of pages: 75 Posted: 22 Dec 2015 Last Revised: 25 Apr 2022
Kosuke Aoki, Alexander Michaelides, Kalin Nikolov, Yuxin Zhang and Yuxin Zhang
University of Tokyo, Imperial College Business School, European Central Bank (ECB) and Renmin University of ChinaRenmin University of China
Downloads 391 (126,300)
Citation 2

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Life cycle models, portfolio choice, Infl‡ation, money demand, stock market participation, uninsurable labor income risk

Inflation, Money Demand and Portfolio Choice

Number of pages: 65 Posted: 22 Feb 2014 Last Revised: 25 Apr 2022
Kosuke Aoki, Alexander Michaelides and Kalin Nikolov
University of Tokyo, Imperial College Business School and European Central Bank (ECB)
Downloads 188 (266,555)

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Life Cycle Models, Portfolio Choice, Inflation, Money Demand, Stock Market Participation, Uninsurable Labor Income Risk

7.

Bank Capital Buffers in a Dynamic Model

Downloads 578 (79,738)
Citation 8

Bank Capital Buffers in a Dynamic Model

Financial Management (https://onlinelibrary.wiley.com/journal/1755053x)
Number of pages: 60 Posted: 02 Dec 2014 Last Revised: 30 Aug 2018
Jochen Mankart, Alexander Michaelides and Spyros Pagratis
Deutsche Bundesbank Research Centre, Imperial College Business School and Athens University of Economics and Business, Assistant Professor
Downloads 543 (85,228)
Citation 2

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Banking, Equity Buffers, Regulatory Interactions, Dynamic Models

Bank Capital Buffers in a Dynamic Model

Deutsche Bundesbank Discussion Paper No. 51/2018
Number of pages: 43 Posted: 23 Jan 2019 Last Revised: 18 Nov 2021
Jochen Mankart, Alexander Michaelides and Spyros Pagratis
Deutsche Bundesbank Research Centre, Imperial College Business School and Athens University of Economics and Business, Assistant Professor
Downloads 35 (753,905)
Citation 3

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Banking, Equity Buffers, Regulatory Interactions

A Dynamic Model of Banking with Uninsurable Risks and Regulatory Constraints

CEPR Discussion Paper No. DP10299
Number of pages: 63 Posted: 23 Jan 2015
Jochen Mankart, Alexander Michaelides and Spyros Pagratis
Deutsche Bundesbank Research Centre, Imperial College Business School and Athens University of Economics and Business
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bank failures, bank leverage, capital requirements, uninsurable risks

8.

Life-Cycle Asset Allocation: A Model with Borrowing Constraints, Uninsurable Labor Income Risk and Stock-Market Participation Costs

Number of pages: 46 Posted: 08 Feb 2002
Francisco Gomes and Alexander Michaelides
London Business School and Imperial College Business School
Downloads 570 (81,119)
Citation 13

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Life-Cycle Asset Allocation, Liquidity Constraints, Stock Market Participation Costs, Uninsurable Labor Income Risk

9.

Firm-Level Climate Regulatory Exposure

Number of pages: 78 Posted: 08 Jul 2021 Last Revised: 02 Apr 2023
Salim Baz, Lara Cathcart, Alexander Michaelides and Yi Zhang
Imperial College Business School, Imperial College Business School, Imperial College Business School and Hong Kong University of Science and Technology (Guangzhou)
Downloads 537 (87,795)

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Climate regulatory exposure, textual analysis, Trump election, stock returns.

10.

What Happened in Cyprus?

Number of pages: 62 Posted: 18 May 2014 Last Revised: 06 Jun 2014
Alexander Michaelides
Imperial College Business School
Downloads 495 (96,532)
Citation 3

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Cyprus, Bail-in, stress tests, cost of inaction, sovereign debt, banking crisis, fiscal imbalances, European sovereign debt crisis

11.

Stock Market Mean Reversion and Portfolio Choice over the Life Cycle

Downloads 483 (99,569)
Citation 12

Stock Market Mean Reversion and Portfolio Choice over the Life Cycle

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 46 Posted: 14 Feb 2015 Last Revised: 18 Nov 2015
Alexander Michaelides, Yuxin Zhang and Yuxin Zhang
Imperial College Business School and Renmin University of ChinaRenmin University of China
Downloads 357 (140,012)
Citation 6

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Portfolio Choice over the Life Cycle, Stock Market Mean Reversion, Stock Market Predictability, Hedging Demands, Lifestyle funds, enhanced target-date funds

Stock Market Mean Reversion and Portfolio Choice over the Life Cycle

Netspar Discussion Paper No. 06/2015-018
Number of pages: 101 Posted: 18 Aug 2015 Last Revised: 09 Sep 2015
Alexander Michaelides and Yuxin Zhang
Imperial College Business School and Renmin University of China
Downloads 126 (371,915)

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Portfolio choice over the life cycle, stock market mean reversion, stock market predictability, hedging demands, lifestyle funds, enhanced target-date funds.

12.

Portfolio Choice, Liquidity Constraints and Stock Market Mean Reversion

Downloads 449 (108,480)
Citation 6

Portfolio Choice, Liquidity Constraints and Stock Market Mean Reversion

Number of pages: 49 Posted: 18 Jul 2000
Alexander Michaelides
Imperial College Business School
Downloads 424 (114,848)
Citation 8

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Portfolio choice, liquidity constraints, buffer stock saving, stock market mean reversion, stock market predictability

Portfolio Choice, Liquidity Constraints and Stock Market Mean Reversion

Number of pages: 50 Posted: 12 Jun 2001
Alexander Michaelides
Imperial College Business School
Downloads 25 (836,518)
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Buffer stock saving, liquidity constraints, portfolio choice, stock market mean reversion, stock market predictability

13.

International Portfolio Choice, Liquidity Constraints and the Home Equity Bias Puzzle

Downloads 444 (109,921)
Citation 4

International Portfolio Choice, Liquidity Constraints and the Home Equity Bias Puzzle

Number of pages: 48 Posted: 21 Dec 2000
Alexander Michaelides
Imperial College Business School
Downloads 422 (115,531)
Citation 3

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International portfolio choice, home equity bias, liquidity constraints, information costs

International Portfolio Choice, Liquidity Constraints and the Home Equity Bias Puzzle

Number of pages: 37 Posted: 30 Nov 2001
Alexander Michaelides
Imperial College Business School
Downloads 22 (864,301)
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International portfolio choice, home equity bias, liquidity constraints, information costs

14.

Private Information in Currency Markets

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 60 Posted: 25 Jan 2016 Last Revised: 20 Mar 2018
Alexander Michaelides, Andreas Milidonis and George Nishiotis
Imperial College Business School, University of Cyprus - Department of Accounting and Finance and University of Cyprus-Faculty of Economics and Management-Department of Accounting and Finance
Downloads 411 (120,298)
Citation 3

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sovereign debt ratings, foreign exchange, institutional quality, information leakage, TRMI

15.

Networks and Information in Credit Markets

Downloads 350 (144,134)
Citation 3

Networks and Information in Credit Markets

Number of pages: 49 Posted: 03 Nov 2017 Last Revised: 03 Mar 2023
Abhimanyu Gupta, Sotirios Kokas, Alexander Michaelides and Raoul Minetti
University of Essex - Department of Economics, University of Essex - Essex Business School, Imperial College Business School and Michigan State University
Downloads 350 (143,113)
Citation 2

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Financial networks, spillovers, cost of lending, syndicated loan market

Credit Market Spillovers: Evidence from a Syndicated Loan Market Network

CEPR Discussion Paper No. DP12424
Number of pages: 65 Posted: 17 Nov 2017
Abhimanyu Gupta, Sotirios Kokas and Alexander Michaelides
University of Essex - Department of Economics, University of Essex - Essex Business School and Imperial College Business School
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complexity., cost of lending, Financial Networks, spatial autoregression, Spillovers, syndicated loan market

16.

(In)Dependent Central Banks

Number of pages: 74 Posted: 03 Nov 2022 Last Revised: 09 Jan 2023
Vasso Ioannidou, Sotirios Kokas, Thomas Lambert and Alexander Michaelides
Bayes Business School (formerly Cass)Centre for Economic Policy Research (CEPR), University of Essex - Essex Business School, Rotterdam School of Management, Erasmus University and Imperial College Business School
Downloads 347 (145,500)

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central banking, central bank independence, governor appointment, legislative reforms, political connections, inflation, financial stability

17.

Optimal Savings with Taxable and Tax-Deferred Accounts

Number of pages: 49 Posted: 14 Sep 2004
Valery Polkovnichenko, Francisco Gomes and Alexander Michaelides
Board of Governors of the Federal Reserve System, London Business School and Imperial College Business School
Downloads 326 (155,527)
Citation 36

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Portfolio Choice, Tax-Deferred Accounts, Retirement Savings, Liquidity Constraints, Uninsurable Labor Income Risk

18.

Portfolio Choice with Internal Habit Formation: A Life-Cycle Model with Uninsurable Labor Income Risk

Number of pages: 52 Posted: 01 Feb 2002
Francisco Gomes and Alexander Michaelides
London Business School and Imperial College Business School
Downloads 286 (178,549)
Citation 36

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Life-Cycle Asset Allocation, Habit Formation, Liquidity Constraints, Stock Market Participation Costs, Uninsurable Labor Income Risk

19.

Strategic Asset Allocation for Sovereign Wealth Funds

Number of pages: 52 Posted: 22 Nov 2022
Alexander Michaelides, Yuxin Zhang and Yuxin Zhang
Imperial College Business School and Renmin University of ChinaRenmin University of China
Downloads 279 (183,066)

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Strategic asset allocation, sovereign wealth funds, sustainability constraint, commodity prices, business cycles.

20.

Proposal to Address the Current Crisis in Cyprus

Number of pages: 3 Posted: 25 Mar 2013
Sofronis Clerides, Antonis A. Ellinas, Irene Karamanou, Alexander Michaelides, Andreas Milidonis, George Nishiotis, Costas Xiouros and Stavros A. Zenios
University of Cyprus, University of Cyprus - Department of Social and Political Sciences, University of Cyprus - Department of Public and Business Administration, Imperial College Business School, University of Cyprus - Department of Accounting and Finance, University of Cyprus-Faculty of Economics and Management-Department of Accounting and Finance, BI Norwegian Business School and University of Cyprus
Downloads 250 (204,315)
Citation 1

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Cyprus crisis, Cyprus bailout, insured deposits, deposit insurance

21.

Stock Market Ownership Transitions

Downloads 247 (205,897)
Citation 5

Stock Market Ownership Transitions

Number of pages: 60 Posted: 24 May 2017 Last Revised: 27 Jan 2023
Yosef Bonaparte, George M. Korniotis, Alok Kumar, Alexander Michaelides and Yuxin Zhang
University of Colorado at Denver - Department of Finance, University of Miami - Department of Finance, University of Miami - Miami Herbert Business School, Imperial College Business School and Renmin University of China
Downloads 247 (205,887)
Citation 5

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Stock market transitions, trading costs, life-cycle portfolio decisions, rare disaster, income and wealth shocks

22.

How Deep is the Annuity Market Participation Puzzle?

Downloads 235 (216,958)
Citation 85

How Deep is the Annuity Market Participation Puzzle?

EFA 2008 Athens Meetings Paper
Number of pages: 45 Posted: 03 Mar 2008
Paula Lopes, Alexander Michaelides and Joachim Inkmann
Financial Markets Group, LSE, Imperial College Business School and University of Melbourne - Department of Finance
Downloads 153 (318,807)

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Annuities, portfolio choice, bequest motive

How Deep is the Annuity Market Participation Puzzle?

Netspar Discussion Paper No. 07/2010-039
Number of pages: 58 Posted: 14 Nov 2010
Joachim Inkmann, Paula Lopes and Alexander Michaelides
University of Melbourne - Department of Finance, Financial Markets Group, LSE and Imperial College Business School
Downloads 77 (520,783)
Citation 2

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Annuities, Portfolio Choice, Life Insurance, Bequest Motive

How Deep is the Annuity Market Participation Puzzle?

CEPR Discussion Paper No. DP7940
Number of pages: 59 Posted: 28 Jul 2010
Joachim Inkmann, Paula Lopes and Alexander Michaelides
University of Melbourne - Department of Finance, Financial Markets Group, LSE and Imperial College Business School
Downloads 5 (1,033,859)
Citation 20
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Annuities, bequest motive, life insurance, portfolio choice

23.

New Evidence on the Effects of U.S. Monetary Policy on Exchange Rates

Downloads 230 (221,539)

New Evidence on the Effects of U.S. Monetary Policy on Exchange Rates

Number of pages: 13 Posted: 26 Nov 2000
Alexander Michaelides and Sarantis C. Kalyvitis
Imperial College Business School and Athens University of Economics and Business - Department of International and European Economic Studies
Downloads 230 (220,799)

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monetary policy, overshooting, excess returns, forward premium puzzle

New Evidence on the Effects of U.S. Monetary Policy on Exchange Rates

Economics Letters
Posted: 26 Nov 2000
Alexander Michaelides and Sarantis C. Kalyvitis
Imperial College Business School and Athens University of Economics and Business - Department of International and European Economic Studies

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monetary policy, overshooting, excess returns, forward premium puzzle

24.

Buffer Stock Saving and Habit Formation

Number of pages: 46 Posted: 04 Mar 2002
Alexander Michaelides
Imperial College Business School
Downloads 223 (228,184)
Citation 3

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Habit Formation, Buffer Stock Saving, Undiversifiable Labor Income Risk, Excess Sensitivity, Smoothness of Consumption

25.

Limiting Fiscal Procyclicality: Evidence from Resource-Dependent Countries

Number of pages: 56 Posted: 10 Sep 2013 Last Revised: 09 Nov 2021
Leonor Coutinho, Dimitrios Georgiou, Maria Heracleous, Alexander Michaelides and Stella Tsani
Centre for Banking and Financial Research, University of Cyprus, European University Institute, University of Cyprus - Department of Economics, Imperial College Business School and National and Kapodistrian University of Athens
Downloads 222 (229,167)
Citation 7

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fiscal procyclicality, commodity prices, natural resources, sovereign wealth funds, fiscal rules

26.

Housing, Distribution and Welfare

Journal of Money, Credit and Banking, forthcoming
Number of pages: 67 Posted: 20 May 2020 Last Revised: 04 Apr 2023
Nobuhiro Kiyotaki, Alexander Michaelides and Kalin Nikolov
Princeton University - Department of Economics, Imperial College Business School and European Central Bank (ECB)
Downloads 198 (254,653)

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Housing prices, credit constraints, distribution, rental markets, welfare.

27.

What is the Value of Financial News?

Number of pages: 50 Posted: 20 Oct 2022
Salim Baz, Lara Cathcart and Alexander Michaelides
Imperial College Business School, Imperial College Business School and Imperial College Business School
Downloads 188 (266,845)

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Media, business cycles, coincident and leading indicators, recessions, out-of- sample predictability, market-timing.

28.

Can Buffer Stock Saving Explain the Smoothness and Excess Sensitivity of Consumption?

Downloads 188 (266,845)
Citation 13

Can Buffer Stock Saving Explain the Smoothness and Excess Sensitivity of Consumption?

Number of pages: 32 Posted: 15 Feb 2000
Alexander Michaelides and Sydney C. Ludvigson
Imperial College Business School and New York University - Department of Economics
Downloads 188 (266,555)
Citation 13

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Can Buffer Stock Saving Explain the Smoothness and Excess Sensitivity of Consumption?

American Economic Review
Posted: 15 Feb 2000
Alexander Michaelides and Sydney C. Ludvigson
Imperial College Business School and New York University - Department of Economics

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29.

Family Portfolio Choice over the Life Cycle

Number of pages: 58 Posted: 18 Nov 2021 Last Revised: 23 Mar 2022
Joachim Inkmann, Alexander Michaelides, Yuxin Zhang and Yuxin Zhang
University of Melbourne - Department of Finance, Imperial College Business School and Renmin University of ChinaRenmin University of China
Downloads 185 (270,708)

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Family Economics, Portfolio Choice over the Life Cycle, Background Risks, Intra-Household Heterogeneity.

30.

Winners and Losers in Housing Markets

Downloads 165 (298,765)
Citation 114

Winners and Losers in Housing Markets

Number of pages: 56 Posted: 18 Feb 2009
Nobuhiro Kiyotaki, Kalin Nikolov and Alexander Michaelides
Princeton University - Department of Economics, European Central Bank (ECB) and Imperial College Business School
Downloads 162 (303,527)
Citation 32

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Real estates, Land, Housing Prices, Life cycle, Collateral constraints

Winners and Losers in Housing Markets

CEPR Discussion Paper No. DP7953
Number of pages: 58 Posted: 16 Aug 2010
Nobuhiro Kiyotaki, Alexander Michaelides and Kalin Nikolov
Princeton University - Department of Economics, Imperial College Business School and European Central Bank (ECB)
Downloads 3 (1,050,233)
Citation 41
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Collateral constraints., Housing Prices, Land, Life cycle, Real estate

31.

Pension Underfunding and the Expected Return on Pension Assets: The Impact of the 2008 Financial Crisis

Downloads 154 (316,717)

Pension Underfunding and the Expected Return on Pension Assets: The Impact of the 2008 Financial Crisis

Number of pages: 71 Posted: 04 Mar 2019 Last Revised: 15 Jul 2022
Alexander Michaelides, Andreas Milidonis and Panayiotis Papakyriakou
Imperial College Business School, University of Cyprus - Department of Accounting and Finance and University of Southampton - Department of Banking and Finance
Downloads 128 (367,494)

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Defined benefit pension plans, pension assumptions, EROA, PPROR, underfunded.

Pension Underfunding and the Expected Return on Pension Assets: The Impact of the 2008 Financial Crisis

Number of pages: 71 Posted: 19 Jul 2022
Alexander Michaelides, Andreas Milidonis and Panayiotis Papakyriakou
Imperial College Business School, University of Cyprus - Department of Accounting and Finance and University of Southampton - Department of Banking and Finance
Downloads 25 (836,518)

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G11, G23, G32

Corporate Pension Plan Funding Levels and Pension Assumptions

CEPR Discussion Paper No. DP13591
Number of pages: 57 Posted: 18 Mar 2019
Alexander Michaelides, Panayiotis Papakyriakou and Andreas Milidonis
Imperial College Business School, University of Southampton - Department of Banking and Finance and University of Cyprus
Downloads 1 (1,066,983)
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Defined benefit pension plans, EROA, pension assumptions, underfunded

32.

Lebanon: from Dollars to Lollars

Number of pages: 46 Posted: 12 Dec 2022 Last Revised: 19 Dec 2022
Salim Baz, Lara Cathcart and Alexander Michaelides
Imperial College Business School, Imperial College Business School and Imperial College Business School
Downloads 148 (327,181)

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Currency pegs, financial crises, macroeconomic imbalances, central banks, currency mismatch

33.

Aggregate Implications of Defined Benefit and Defined Contribution Systems

Boston College Center for Retirement Research Working Paper No. 2003-16
Number of pages: 51 Posted: 10 Jun 2004
Francisco Gomes and Alexander Michaelides
London Business School and Imperial College Business School
Downloads 148 (327,181)

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General Equilibrium, Liquidity Constraints, Heterogeneous Agents, Undiversifiable Labor Income, Defined Benefit Systems, Defined Contribution Systems

34.

Shock Absorbers and Transmitters: The Dual Facets of Bank Specialization

Number of pages: 48 Posted: 09 Aug 2022 Last Revised: 12 Dec 2022
Rajkamal Iyer, Sotirios Kokas, Alexander Michaelides and José-Luis Peydró
Massachusetts Institute of Technology (MIT) - Sloan School of Management, University of Essex - Essex Business School, Imperial College Business School and Imperial College London
Downloads 146 (330,773)
Citation 1

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Bank specialization, industry-specific shocks, real effects, credit growth, financial frictions

35.

Life-Cycle Portfolio Choice with Imperfect Predictors

Journal of Banking and Finance, Forthcoming
Number of pages: 55 Posted: 18 Sep 2019 Last Revised: 10 Nov 2021
Alexander Michaelides and Yuxin Zhang
Imperial College Business School and Renmin University of China
Downloads 145 (332,646)
Citation 1

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Portfolio Choice over the Life Cycle, Filtering, Stock Market Predictability, Imperfect Predictors.

36.

Asset Pricing and Risk Sharing Implications of Alternative Pension Plan Systems

Number of pages: 71 Posted: 14 Apr 2023 Last Revised: 27 Sep 2023
Nuno Coimbra, Francisco Gomes, Alexander Michaelides and Jialu Shen
Banque de France, London Business School, Imperial College Business School and University of Missouri at Columbia - Department of Finance
Downloads 133 (355,830)

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Equity Premium, Pension Funds, Defined Contribution and Defined Benefit Pension Plans, Intermediary-Based Asset Pricing, Incomplete Risk Sharing.

37.

Understanding Japanese Household Portfolios

Number of pages: 51 Posted: 26 Apr 2021 Last Revised: 01 Feb 2023
Kosuke Aoki, Alexander Michaelides and Kalin Nikolov
University of Tokyo, Imperial College Business School and European Central Bank (ECB)
Downloads 129 (364,091)

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Life Cycle Models, Portfolio Choice, Stock Market Participation, Uninsurable Labor Income Risk, Japanese Portfolios

38.

Quantifying the Distortionary Fiscal Cost of ‘The Bailout’

Number of pages: 47 Posted: 03 Jun 2010 Last Revised: 06 Oct 2010
Francisco Gomes, Alexander Michaelides and Valery Polkovnichenko
London Business School, Imperial College Business School and Board of Governors of the Federal Reserve System
Downloads 96 (449,783)
Citation 9

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39.

Can the Life Insurance Market Provide Evidence for a Bequest Motive?

Netspar Discussion Paper No. 07/2010-027, 23rd Australasian Finance and Banking Conference 2010 Paper
Number of pages: 46 Posted: 04 Aug 2010 Last Revised: 13 Aug 2010
Joachim Inkmann and Alexander Michaelides
University of Melbourne - Department of Finance and Imperial College Business School
Downloads 81 (499,872)
Citation 1

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Portfolio Choice, Life Insurance, Bequest Motive

40.

Wealth Accumulation and Portfolio Choice with Taxable and Tax-Deferred Accounts

Number of pages: 56 Posted: 11 May 2005
Alexander Michaelides, Francisco Gomes and Valery Polkovnichenko
Imperial College Business School, London Business School and Board of Governors of the Federal Reserve System
Downloads 23 (828,532)
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Portfolio choice, tax-deferred accounts, retirement savings, liquidity constraints, uninsurable labor income risk

41.

Portfolio Choice with Internal Habit Formation: A Life-Cycle Model with Uninsurable Labour Income Risk

Number of pages: 54 Posted: 05 Jun 2003
Francisco Gomes and Alexander Michaelides
London Business School and Imperial College Business School
Downloads 23 (828,532)
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Life-cycle asset allocation, habit formation, liquidity constraints, stock market participation costs, uninsurable labour income risk

42.

Quantifying the Distortionary Fiscal Cost of 'The Bailout'

CEPR Discussion Paper No. DP7941
Number of pages: 45 Posted: 28 Jul 2010
Francisco Gomes, Alexander Michaelides and Valery Polkovnichenko
London Business School, Imperial College Business School and Board of Governors of the Federal Reserve System
Downloads 5 (994,887)
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Bailout, Fiscal Policy, Government Debt, Incomplete Financial Markets., Tax Distortions

43.

Asset Pricing with Limited Risk Sharing and Heterogeneous Agents

Downloads 4 (1,002,372)
Citation 42

Asset Pricing with Limited Risk Sharing and Heterogeneous Agents

CEPR Discussion Paper No. DP6136
Number of pages: 53 Posted: 19 May 2008
Francisco Gomes and Alexander Michaelides
London Business School and Imperial College Business School
Downloads 4 (1,042,259)
Citation 42
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Equity premium, incomplete risk sharing, life-cycle models, limited stock market participation, preference heterogeneity

Asset Pricing with Limited Risk Sharing and Heterogeneous Agents

The Review of Financial Studies, Vol. 21, Issue 1, pp. 415-448, 2008
Posted: 26 Jun 2008
Francisco Gomes and Alexander Michaelides
London Business School and Imperial College Business School

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44.

Evidence on the Insurance Effect of Marginal Income Taxes

Downloads 3 (1,009,383)

Evidence on the Insurance Effect of Marginal Income Taxes

CEPR Discussion Paper No. DP6710
Number of pages: 37 Posted: 10 Jun 2008
Charles Grant, Christos Koulovatianos, Alexander Michaelides and Mario Padula
University of Reading, Department of Finance, University of Luxembourg, Imperial College Business School and University "Ca' Foscari" of Venice
Downloads 3 (1,050,233)
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Consumption Insurance, Tax Distortions, Undiversifiable Earnings Risk

Evidence on the Insurance Effect of Marginal Income Taxes

CFS Working Paper No. 2008/06
Posted: 25 Sep 2008
Charles Grant, Christos Koulovatianos, Alexander Michaelides and Mario Padula
University of Reading, Department of Finance, University of Luxembourg, Imperial College Business School and University "Ca' Foscari" of Venice

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Undiversifiable Earnings Risk, Consumption Insurance, Tax Distortions

45.

On Optimal Allocations of Target-Date Funds

Journal of Retirement (forthcoming)
Posted: 08 Jun 2021 Last Revised: 25 Apr 2022
Radu Gabudean, Francisco Gomes, Alexander Michaelides and Yuxin Zhang
American Century Investments, London Business School, Imperial College Business School and Renmin University of China

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Target Date Funds, Life cycle investing, Saving for retirement, Glide path

46.

Limiting Fiscal Procyclicality: Evidence from Resource-Rich Countries

CEPR Discussion Paper No. DP9672
Number of pages: 54 Posted: 07 Oct 2013
Dimitrios Georgiou, Maria Heracleous, Alexander Michaelides and stela cani
European University Institute, University of Cyprus - Department of Economics, Imperial College Business School and University of Reading
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commodity prices, fiscal procyclicality, fiscal rules, natural resources, sovereign wealth funds

47.

A Comment on Diagnostic Tools for Counterfactual Inference

Political Analysis, Vol. 17, Issue 1, pp. 89-106, 2009
Posted: 18 Aug 2009
Nicholas Sambanis and Alexander Michaelides
Department of Political Science, Yale University and Imperial College Business School

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