Christelis, Dimitris; Georgarakos, Dimitris; Haliassos, … - Center for Financial Studies - 2009
: Stockholding, Asset Location, Retirement Accounts, Household Finance, Multivariate
Probit, Simulated Maximum Likelihood.
1
1 …. As in a standard multivariate probit model, an added equation does not
affect consistency but only efficiency … stocks, conditional on having opened the
retirement account.
Our multivariate probit model with selection integrates …