Science and research

Based on research, we give you advice tailored to your specific situation

Research-based and independent

For many years, the founders of Lifeplan have conducted research on how an individual should manage their pension capital in the best possible way.

We have compiled a reference list of what we consider to be the most important contributions in the scientific literature and some of our own articles.

Portfolio selection over the lifecycle

• Campbell J. Y., J. Cocco, F. Gomes and P. Maenhout, 2001, Investing Retirement Wealth: A life-cycle Model, in John Y. Campbell and Martin Feldstein(eds), Risk Aspects of Social Security Reform, The University of Chicago Press, Chicago, IL.
• Carlsson E., K. Erlandzon and J. Gustavsson, 2008, A Tale of Two Systems: Winners and Losers when moving from Defined Benefit to Defined Contribution Pensions, Mathematical Methods in Economics and Finance 3, 17-39.
• Carroll C. and A. Samwick, 1997, The Nature of Precautionary Wealth, Journal of Monetary Economics 40, 41-71.
• Cocco J.F, 2005, Portfolio Choice in the Presence of Housing, Review of Financial Studies 18, 535-567.
• Cocco J.F, F.J. Gomes and P.J. Maenhout, 2005, Consumption and Portfolio Choice over the Life-Cycle, Review of Financial Studies 18, 491-533.
• Deaton, A., 1991, Saving and liquidity constraints, Econometrica 59, 1221-1248.
• Friedman M., 1957, A Theory of the Consumption Function, Princeton Univ. Press, Princeton, NJ.
• Gomes F. and A. Michaelides, 2005, Optimal Life-Cycle Asset Allocation: Understanding the Empirical Evidence, Journal of Finance 60, No. 2, 869-904
• Gourinchas P-O. and J.A. Parker, 2002, Consumption over the life-cycle, Econometrica 70, 47-89.
• Merton R.C., (1971), Optimum Consumption and Portfolio Choice in a Continuous-Time Model, Journal of Economic Theory, 3, 373-413.
• Modigliani, F. and R. Brumberg, 1954, Utility Analysis and the Consumption Function: An Interpretation of Cross-section Data, in K. Kurihara, editor, Post Keynesian Economics, Rutgers University Press, New Brunswick, NJ.
• Samuelson P.A., 1969, Lifetime Portfolio Selection by Dynamic Stochastic Programming, Review of Economics and Statistics 51, 239-246.
• Yao R. and H.H. Zhang, 2005, Optimal Consumption and Portfolio Choices with Risky Housing and Borrowing Constraints, Review of Financial Studies 18, 197-238.
• Zeldes, S.P. 1989, Optimal Consumption with Stochastic Income: Deviations from Certainty Equivalence, Quarterly Journal of Economics 104, 275-98.

Evaluation of funds

• TextBrown S.J., W.N. Goetzmann, 1995, Attrition and Mutual Fund Performance, Journal of Finance, 50, 679-698.
• Dahlquist M., S. Engström, P. Söderlind, 2000, Performance and Characteristics of Swedish Mutual Funds, Journal of Financial and Quantitative Analysis, 35, 409-423.
• Edwin J.E., M.Gruber, C.R. Blake, 1996, Survivorship Bias and Mutual Fund Performance, Review of Financial Studies 9, 1097-1120.
• Grinblatt M. S. Titman, 1989, Portfolio Performance Evaluation: Old Issues and New Insights, Review of Financial Studies 2, 393-421.
• Ippolito R.A., 1989, Efficiency with costly information: A study of mutual fund performance, Quaterly Journal of Economics, 104, 1-24.
• Jensen, M.C., 1968, The performance of mutual funds in the period 1945—1964, Journal of Finance 23, 389-416.
• Sharpe W.F., 1966, Mutual fund performance, Journal of Business, 39, 119-138.
• Sharpe W.F., 1992, Asset allocation, management style and performance measurement, Journal of Portfolio Management, Fall, 49-58.

Household behaviour

• Calvet J.E., J.Y. Campbell and P. Sodini, 2006, Down or Out: Assessing the Welfare Costs of Household Investment Mistakes, working paper NBER No. 12030.
• Campbell J.Y., 2006, Household Finance, Journal of Finance 18, 535-567.
• Hall Mishkin : Hall, R.E., and F.S. Mishkin, 1982, The Sensitivity of Consumption to Transitory Income: Estimates from Panel Data on Households, Econometrica 50, 461-81.

Pension schemes and risk sharing

• Campbell J.Y., 2003, Investment Risk and Social Security Reform Public Policy Panel, American Finance Association.
• Campbell J.Y., 2005, Risksharing in Pensions Systems, working paper, Harvard University.
• Campbell J.Y. and Y. Nosbusch, 2006, Intergenerational Risksharing and Equilibrium Asset Prices, working paper, Harvard University.
• Carlsson E. and K. Erlandzon, 2006, The Bright Side of Shiller-Swaps: A Solution to Inter-Generational Risk Sharing, working paper, School of Business, Economics and Law, Göteborg University.
• Carlsson E. and K. Erlandzon, 2005, The Dark Side of Wage-Indexed Pensions, working paper, School of Business, Economics and Law, Göteborg University.
• CSSS-Commission to Strengthen Social Security, 2001, Strengthening Social Security and Creating Wealth for all Americans, Report of the President’s Commission, www.csss.gov.
• Diamond, P.A., 2002, Social Security Reform (Lindahl Lectures), Oxford University Press Inc, New York, NY.
• Holzmann R. and E. Palmer, 2006, Pension Reform: Issues and Prospects for Non-Financial Defined Contribution (NDC) Schemes, World Bank, washington D.C.
• Shiller R.J., 1993, Macro Markets: Creating institutions for managing society’s largest economic risks, Oxford Univeristy Press, Oxford, U.K.
• Shiller R.J., 2003, The New Financial Order: Risk in the 21st Century, Princeton University Press, Princeton, NJ.
• Shiller R.J., 2003, Social Security and Individual Accounts as Elements of Overall Risk-Sharing, American Economic Review 93, 343-347.
• Shiller R.J., 2005, The Life-cycle Personal A Proposal for Social Security: An Evaluation, working paper, NBER.

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