Corpus ID: 14352858

Optimal Asset Allocation in the Presence of Nonfinancial Assets

@article{Kyrychenko2008OptimalAA,
  title={Optimal Asset Allocation in the Presence of Nonfinancial Assets},
  author={V. Kyrychenko},
  journal={Financial Services Review},
  year={2008},
  volume={17},
  pages={69}
}
Abstract In this paper, a comprehensive mean-variance model, which includes all major nonfinancial assets (housing, human capital, and private business) besides financial ones is calibrated with empirical data to generate optimal asset allocations between stocks, bonds, and cash. The model is used to investigate the effect that each of the nonfinancial assets has on the optimal mix of financial assets. Among others, it generates the optimal portfolio allocation for investors working in… Expand
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