NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Money in Motion: Dynamic Portfolio Choice in Retirement

Wolfram J. Horneff, Raimond H. Maurer, Olivia S. Mitchell, Michael Z. Stamos

NBER Working Paper No. 12942
Issued in February 2007

---- Acknowledgements -----

This research was conducted with support from the US Social Security Administration via the Michigan Retirement Research Center at the University of Michigan. Additional research support was provided by the German Investment and Asset Management Association (BVI), the German Research Foundation (DFG), the Fritz-Thyssen Foundation, the Observatoire de l'Epargne Europeenne (OEE), and the Pension Research Council (PRC) at The Wharton School of the University of Pennsylvania. We are grateful for useful comments from John Ameriks, Jeffrey Brown, and Christian Gollier.The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research or the other institutions with which the authors are affiliated. This is part of the NBER Program on the Economics of Aging.

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