Mar­cel Fisc­her

This re­search area deals with the ques­tion how in­di­vidu­als should al­loc­ate their sav­ings in the pres­ence of fric­tions over the life cycle.

Own­er-oc­cu­pied homes are typ­ic­ally the largest single fin­an­cial in­vest­ments of in­di­vidu­als. Yet, they dif­fer along sev­er­al di­men­sions from con­ven­tion­al as­sets, such as stocks or bonds. In this re­search area, I ex­plore the im­plic­a­tions of these dif­fer­ences for in­vest­ments into own­er-oc­cu­pied homes.

Taxes sub­stan­tially com­plic­ate op­tim­al in­vest­ment de­cisions. I ex­plore how in­vestors’ op­tim­al in­vest­ment de­cisions change in the pres­ence of taxes.